https://www.taxtmi.com/caselaws?id=352205 The High Court ruled in favor of the assessee on various tax-related issues. It held that duty drawback should not be included in taxable income, deleted the addition of Customs Duty on closing inventory, rejected the addition for excessive consumption of raw material, allowed MODVAT on excessive material consumption, supported depreciation claim partially, and disallowed disallowance under Section 40(a)(i) for payments to agents abroad. The Court emphasized that TDS was not required on payments to non-resident agents without income arising in India. en-us Thu, 07 Dec 2017 00:00:00 +0530 Tue, 18 Sep 2018 17:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352205 The High Court ruled in favor of the assessee on various tax-related issues. It held that duty drawback should not be included in taxable income, deleted the addition of Customs Duty on closing inventory, rejected the addition for excessive consumption of raw material, allowed MODVAT on excessive material consumption, supported depreciation claim partially, and disallowed disallowance under Section 40(a)(i) for payments to agents abroad. The Court emphasized that TDS was not required on payments to non-resident agents without income arising in India. Case-Laws Income Tax Thu, 07 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352205