https://www.taxtmi.com/caselaws?id=13715 The Tribunal upheld the CIT(A)'s decision favoring the assessee, concluding that sales tax and excise duty should be excluded from "total turnover" when calculating deductions under section 80HHC of the Income-tax Act. This interpretation prevents artificial inflation of total turnover, thereby maintaining the intended benefit for exporters. The judgment aligns with precedents from various High Courts, emphasizing that statutory outgoings lacking profit elements should not be included in total turnover. The court's decision favored the assessee, rejecting the Revenue's appeal, and affirmed the exclusion of these taxes from total turnover calculations. en-us Mon, 22 May 2006 00:00:00 +0530 Sat, 16 Mar 2024 13:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13715 The Tribunal upheld the CIT(A)'s decision favoring the assessee, concluding that sales tax and excise duty should be excluded from "total turnover" when calculating deductions under section 80HHC of the Income-tax Act. This interpretation prevents artificial inflation of total turnover, thereby maintaining the intended benefit for exporters. The judgment aligns with precedents from various High Courts, emphasizing that statutory outgoings lacking profit elements should not be included in total turnover. The court's decision favored the assessee, rejecting the Revenue's appeal, and affirmed the exclusion of these taxes from total turnover calculations. Case-Laws Income Tax Mon, 22 May 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13715