https://www.taxtmi.com/caselaws?id=217225 The court ruled in favor of the assessee on the first and second issues, holding that scrap sales should be included in total turnover and only net interest should be considered for the 90% exclusion under Section 80HHC. On the third issue, the court determined that the non-compete fee was a revenue expenditure, not a capital expenditure. However, on the fourth issue, the court upheld the Tribunal's decision that the assessee was entitled to a deduction under Section 35AB, not depreciation under Section 32. The Tax Case Appeal was disposed of accordingly, with no costs. en-us Mon, 10 Sep 2012 00:00:00 +0530 Mon, 08 Oct 2012 10:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217225 The court ruled in favor of the assessee on the first and second issues, holding that scrap sales should be included in total turnover and only net interest should be considered for the 90% exclusion under Section 80HHC. On the third issue, the court determined that the non-compete fee was a revenue expenditure, not a capital expenditure. However, on the fourth issue, the court upheld the Tribunal's decision that the assessee was entitled to a deduction under Section 35AB, not depreciation under Section 32. The Tax Case Appeal was disposed of accordingly, with no costs. Case-Laws Income Tax Mon, 10 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217225