https://www.taxtmi.com/caselaws?id=210601 The court ruled in favor of the assessee on all substantial questions raised regarding the treatment of expenses in computing deductions under Sections 10A and 10B of the Act. It held that expenses should not be reduced from total turnover for deduction purposes and that miscellaneous income on refund of Central Sales Tax should be included. Additionally, the deduction for merchant's overtime charges paid in a different assessment year was allowed as the demand for the charges arose in the current assessment year. The judgment emphasized allowing deductions based on the assessment year in which expenses were paid, ensuring a fair approach for taxpayers. en-us Fri, 28 Oct 2011 00:00:00 +0530 Thu, 16 Feb 2012 08:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210601 The court ruled in favor of the assessee on all substantial questions raised regarding the treatment of expenses in computing deductions under Sections 10A and 10B of the Act. It held that expenses should not be reduced from total turnover for deduction purposes and that miscellaneous income on refund of Central Sales Tax should be included. Additionally, the deduction for merchant's overtime charges paid in a different assessment year was allowed as the demand for the charges arose in the current assessment year. The judgment emphasized allowing deductions based on the assessment year in which expenses were paid, ensuring a fair approach for taxpayers. Case-Laws Income Tax Fri, 28 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210601