https://www.taxtmi.com/caselaws?id=205102 The High Court held that excise duty and sales tax should be excluded from the total turnover under section 80HHC of the Act, following Supreme Court precedent. It was determined that only the net agency commission should be considered for computing "profits of business" under the same section. Additionally, the Court upheld the allowance of bad debts written off as a deduction without the need to establish irrecoverability post-April 1, 1989. Both appeals were dismissed, and the substantial questions of law were answered in favor of the assessee and against the Revenue in all issues. en-us Wed, 07 Jul 2010 00:00:00 +0530 Fri, 21 Dec 2012 13:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205102 The High Court held that excise duty and sales tax should be excluded from the total turnover under section 80HHC of the Act, following Supreme Court precedent. It was determined that only the net agency commission should be considered for computing "profits of business" under the same section. Additionally, the Court upheld the allowance of bad debts written off as a deduction without the need to establish irrecoverability post-April 1, 1989. Both appeals were dismissed, and the substantial questions of law were answered in favor of the assessee and against the Revenue in all issues. Case-Laws Income Tax Wed, 07 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205102