https://www.taxtmi.com/caselaws?id=283977 The assessee's appeal was partly allowed, and the revenue's appeal was dismissed. The addition of prior period expenses was upheld due to lack of evidence. Relief under section 80HHC was granted by excluding the negative effect of exchange rate fluctuation. DEPB receipts were considered entirely as profit. Job charges were remitted for fresh consideration, while insurance claims were excluded from business income. Gross interest reduction was upheld. Book profits were to be used for calculating deductions under section 115JB. Addition on account of commission and interest related to capital work in progress were deleted. Exclusion of excise duty and DEPB receipts from total turnover for section 80HHC was upheld. en-us Thu, 28 Feb 2008 00:00:00 +0530 Tue, 22 Oct 2019 18:04:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283977 The assessee's appeal was partly allowed, and the revenue's appeal was dismissed. The addition of prior period expenses was upheld due to lack of evidence. Relief under section 80HHC was granted by excluding the negative effect of exchange rate fluctuation. DEPB receipts were considered entirely as profit. Job charges were remitted for fresh consideration, while insurance claims were excluded from business income. Gross interest reduction was upheld. Book profits were to be used for calculating deductions under section 115JB. Addition on account of commission and interest related to capital work in progress were deleted. Exclusion of excise duty and DEPB receipts from total turnover for section 80HHC was upheld. Case-Laws Income Tax Thu, 28 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283977