https://www.taxtmi.com/caselaws?id=207881 The Tribunal upheld the inclusion of scrap sales in total turnover for deduction under sec.80HHC, disallowing the inclusion of interest income, cutter-re-sharpening charges, and export incentives. It ruled replacement costs of dies as revenue expenditure, allowed 100% depreciation on civil works, and disallowed ASEAN project expenses. The Tribunal vacated the retrospective application of Rule 8D for disallowance under sec.14A. Deductions for work-in-progress and other expenses were granted, and the addition towards sales tax deferral loan was deleted. Disallowance of processing fees and consultancy payments to non-residents was overturned. The appeals and cross-appeals were decided accordingly. en-us Wed, 22 Dec 2010 00:00:00 +0530 Wed, 28 Dec 2011 02:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207881 The Tribunal upheld the inclusion of scrap sales in total turnover for deduction under sec.80HHC, disallowing the inclusion of interest income, cutter-re-sharpening charges, and export incentives. It ruled replacement costs of dies as revenue expenditure, allowed 100% depreciation on civil works, and disallowed ASEAN project expenses. The Tribunal vacated the retrospective application of Rule 8D for disallowance under sec.14A. Deductions for work-in-progress and other expenses were granted, and the addition towards sales tax deferral loan was deleted. Disallowance of processing fees and consultancy payments to non-residents was overturned. The appeals and cross-appeals were decided accordingly. Case-Laws Income Tax Wed, 22 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207881