https://www.taxtmi.com/caselaws?id=240259 The High Court dismissed the appeal in a case concerning the computation of business profits under the Income Tax Act, 1961 for a U.P. Excise contractor. It upheld the exclusion of Nirgam Mulya from the purchase price, considering it a consideration paid by the State Government for the privilege. The decision relied on previous case law and did not find any legal infirmity in the Tribunal's order regarding the treatment of expenses on glasses and kulhars, ultimately emphasizing the exclusion of Nirgam Mulya in the purchase price calculation. en-us Wed, 07 Nov 2012 00:00:00 +0530 Wed, 20 Nov 2013 18:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240259 The High Court dismissed the appeal in a case concerning the computation of business profits under the Income Tax Act, 1961 for a U.P. Excise contractor. It upheld the exclusion of Nirgam Mulya from the purchase price, considering it a consideration paid by the State Government for the privilege. The decision relied on previous case law and did not find any legal infirmity in the Tribunal's order regarding the treatment of expenses on glasses and kulhars, ultimately emphasizing the exclusion of Nirgam Mulya in the purchase price calculation. Case-Laws Income Tax Wed, 07 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240259