https://www.taxtmi.com/caselaws?id=240868 The ITAT upheld the AO's computation of depreciation, disallowance of interest on borrowings, and exclusion of excise duty from total turnover. However, it directed the AO to reexamine the exclusion of DEPB from eligible profits for deduction u/s 80HHC in line with a Supreme Court judgment, allowing the department's appeal in part and the assessee's appeal partly for statistical purposes. en-us Wed, 13 Feb 2013 00:00:00 +0530 Fri, 13 Dec 2013 07:12:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240868 The ITAT upheld the AO's computation of depreciation, disallowance of interest on borrowings, and exclusion of excise duty from total turnover. However, it directed the AO to reexamine the exclusion of DEPB from eligible profits for deduction u/s 80HHC in line with a Supreme Court judgment, allowing the department's appeal in part and the assessee's appeal partly for statistical purposes. Case-Laws Income Tax Wed, 13 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240868