2006 (1) TMI 121

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....- The above tax case appeals are directed against the order of the Income-tax Appellate Tribunal dated March 28, 2005, made in I. T. A. Nos. 736/Mds/2001, 1471 to 1474 (Mds)/2003, 327/Mds/97, 880 to 884/Mds/2000 and 1941(Mds)/2000 for the assessment years 1995-96, 1992-93, 1993-94, 1998-99, 1999-2000, 1986-87 to 1990-91 and 1991-92. The Revenue is the appellant. The assessment years involved ar....

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....-94 on account of scrap sales and inflation of expenses, i.e., travelling allowances, miscellaneous expenses, overtime wages etc. Aggrieved by the order of the Assessing Officer, the assessee filed appeals before the Commissioner of Income-tax (Appeals), who partly allowed the appeals, against which, the assessee as well as the Revenue filed appeals before the Income-tax Appellate Tribunal, whi....

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.... case, the Tribunal was right in holding that excise duty and sales tax do not form part of the total turnover for the purpose of calculation of benefit under section 80HHC is concededly governed by a decision of this court in the case of CIT v. Wheels India Ltd. reported in [2005] 275 ITR 319 in which one of us was a party (P. D. Dinakaran J.) wherein it was held that section 80HHC is a code by i....

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.... on the facts and circumstances of the case, the Tribunal was right in deleting the additions on account of unaccounted sale of scrap and inflation of expenses on the ground that seven individuals had disclosed these amounts before the Settlement Commission? Concededly, the seven individuals, who are directors of the assessee company had made declarations in respect of the income earned by thei....