https://www.taxtmi.com/caselaws?id=220522 The Court held in favor of the assessee, ruling that the entire scrap sales should be included in business profits for computation purposes under section 80 HHC. The Tribunal's decision to include only 7.5% of scrap sales in profits was overturned, emphasizing that no expenses are incurred for scrap generation, making all scrap sales eligible for inclusion in business profits. The Court rejected the revenue's argument that scrap value should only be included in total turnover, upholding the appellant's position based on established legal principles. The appeal was dismissed in favor of the assessee. en-us Tue, 22 Jan 2013 00:00:00 +0530 Fri, 28 Jun 2013 14:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220522 The Court held in favor of the assessee, ruling that the entire scrap sales should be included in business profits for computation purposes under section 80 HHC. The Tribunal's decision to include only 7.5% of scrap sales in profits was overturned, emphasizing that no expenses are incurred for scrap generation, making all scrap sales eligible for inclusion in business profits. The Court rejected the revenue's argument that scrap value should only be included in total turnover, upholding the appellant's position based on established legal principles. The appeal was dismissed in favor of the assessee. Case-Laws Income Tax Tue, 22 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220522