https://www.taxtmi.com/caselaws?id=34976 The Supreme Court clarified in Commissioner of Income-tax vs. Ponni Sugars and Chemicals Limited that the additional price from free sugar sales should be considered a capital receipt if aimed at new unit setup or expansion. In another case, Commissioner of Income Tax vs. Lakshmi Machine Works, the Court held that excise duty and sales tax should be excluded from turnover calculations under Section 80HHC of the Income-tax Act, 1961. Both appeals were dismissed based on these established principles, settling the issues against the Revenue. en-us Tue, 03 Nov 2009 00:00:00 +0530 Mon, 23 Nov 2009 17:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34976 The Supreme Court clarified in Commissioner of Income-tax vs. Ponni Sugars and Chemicals Limited that the additional price from free sugar sales should be considered a capital receipt if aimed at new unit setup or expansion. In another case, Commissioner of Income Tax vs. Lakshmi Machine Works, the Court held that excise duty and sales tax should be excluded from turnover calculations under Section 80HHC of the Income-tax Act, 1961. Both appeals were dismissed based on these established principles, settling the issues against the Revenue. Case-Laws Income Tax Tue, 03 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34976