https://www.taxtmi.com/caselaws?id=208044 The ITAT dismissed the Revenue's appeal and upheld the CIT(A) order for the assessment year 2002-03. The ITAT affirmed the exclusion of duty and sales tax from turnover for deduction under section 80HHC, in line with the Supreme Court's decision in Laxmi Machine Tools. Additionally, certain receipts, including write back suppliers, customers, and sales tax refund, were not excluded from the deduction calculation as they impacted the business profits. The ITAT also ruled that no adjustment was necessary in the arm's length price under Transfer Pricing Regulations if the variation was less than 5%. en-us Wed, 27 Jan 2010 00:00:00 +0530 Tue, 03 Jan 2012 14:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208044 The ITAT dismissed the Revenue's appeal and upheld the CIT(A) order for the assessment year 2002-03. The ITAT affirmed the exclusion of duty and sales tax from turnover for deduction under section 80HHC, in line with the Supreme Court's decision in Laxmi Machine Tools. Additionally, certain receipts, including write back suppliers, customers, and sales tax refund, were not excluded from the deduction calculation as they impacted the business profits. The ITAT also ruled that no adjustment was necessary in the arm's length price under Transfer Pricing Regulations if the variation was less than 5%. Case-Laws Income Tax Wed, 27 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208044