https://www.taxtmi.com/caselaws?id=219359 The Tribunal held that the excise duty refund is to be treated as a capital receipt, allowing the appeals of both assessees. The issue of whether the refund should be included in business profits for deduction under section 80IB was not addressed due to the capital nature of the refund. The Tribunal also found the charging of interest under section 234-B to be consequential and decided accordingly, ruling it as arbitrary, unjust, and illegal. en-us Fri, 26 Oct 2012 00:00:00 +0530 Wed, 06 Apr 2016 14:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219359 The Tribunal held that the excise duty refund is to be treated as a capital receipt, allowing the appeals of both assessees. The issue of whether the refund should be included in business profits for deduction under section 80IB was not addressed due to the capital nature of the refund. The Tribunal also found the charging of interest under section 234-B to be consequential and decided accordingly, ruling it as arbitrary, unjust, and illegal. Case-Laws Income Tax Fri, 26 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219359