https://www.taxtmi.com/caselaws?id=367736 The High Court of Madras ruled in favor of the assessee in an appeal concerning the interpretation of Section 80HHC of the Income Tax Act 1961 regarding profits from the sale of office waste and scrap. The court held that such profits should be considered part of business profits for deduction under Section 80HHC, following guidance from a previous Supreme Court decision. As a result, the appeal by the Revenue was dismissed, emphasizing the importance of accurately applying tax provisions to determine taxable profits and deductions. en-us Mon, 10 Sep 2018 00:00:00 +0530 Tue, 25 Sep 2018 08:25:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367736 The High Court of Madras ruled in favor of the assessee in an appeal concerning the interpretation of Section 80HHC of the Income Tax Act 1961 regarding profits from the sale of office waste and scrap. The court held that such profits should be considered part of business profits for deduction under Section 80HHC, following guidance from a previous Supreme Court decision. As a result, the appeal by the Revenue was dismissed, emphasizing the importance of accurately applying tax provisions to determine taxable profits and deductions. Case-Laws Income Tax Mon, 10 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367736