https://www.taxtmi.com/news?id=436 Excise duty, sales tax and conversion charges are excluded from total turnover for computing deduction under 80HHC; replacement of machinery is to be classified by tax law principles and may be revenue expenditure where plant functions as a common unit and no depreciation was claimed. A penalty for concealment requires the assessing officer to form and record satisfaction before initiating proceedings. Service charges enabling business efficiency can be revenue expenditure rather than capital, and the assessee bears the burden to prove genuineness of cash credits; DTAA may affect refund claims of deemed TDS. en-us Thu, 15 May 2008 22:02:00 +0530 Mon, 23 Jun 2008 10:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=436 Excise duty, sales tax and conversion charges are excluded from total turnover for computing deduction under 80HHC; replacement of machinery is to be classified by tax law principles and may be revenue expenditure where plant functions as a common unit and no depreciation was claimed. A penalty for concealment requires the assessing officer to form and record satisfaction before initiating proceedings. Service charges enabling business efficiency can be revenue expenditure rather than capital, and the assessee bears the burden to prove genuineness of cash credits; DTAA may affect refund claims of deemed TDS. News - Thu, 15 May 2008 22:02:00 +0530 https://www.taxtmi.com/news?id=436