2014 (9) TMI 1131

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....ainst the order CIT(A), dated 18-10-2012 for assessment year 2008-09, in the matter of order passed u/s.143(3)(ii) of the I.T. Act. 2. The only grievance of the assessee relates to disallowance of claim of deduction u/s.10B in respect of sales tax refund of Rs. 6,20,091/-. The AO has disallowed claim of deduction u/s.10B on the plea that the CST refund is not on account of profits and gains deriv....

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....payment of sales tax on the cost of goods so purchased and debited to the profit and loss account go to reduce the profit. In case of assessee gets refund of certain amount on such sale tax which is a part of purchase cost, the corresponding profit of assessee will go to increase. In the instant case as per contention of Ld. AR, it appears that assessee has already debited the amount paid under sa....