https://www.taxtmi.com/caselaws?id=425490 The Tribunal allowed the exclusion of excise duty exemption from book profit computation under section 115JB, citing it as a capital receipt. It also permitted the deduction for amortization of leasehold land expenses under section 37, finding it wholly for business purposes. The Tribunal upheld the arm's length guarantee fee rate at 0.5% and dismissed the Revenue's appeal on this issue. Additionally, the Tribunal rejected the downward adjustment in purchases made by eligible units from non-eligible units, stating the higher profits were legitimate. en-us Tue, 21 Jun 2022 00:00:00 +0530 Mon, 25 Jul 2022 08:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425490 The Tribunal allowed the exclusion of excise duty exemption from book profit computation under section 115JB, citing it as a capital receipt. It also permitted the deduction for amortization of leasehold land expenses under section 37, finding it wholly for business purposes. The Tribunal upheld the arm's length guarantee fee rate at 0.5% and dismissed the Revenue's appeal on this issue. Additionally, the Tribunal rejected the downward adjustment in purchases made by eligible units from non-eligible units, stating the higher profits were legitimate. Case-Laws Income Tax Tue, 21 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425490