Excise Duty Refunds and Duty Drawbacks Must Reduce Project Costs, Not Classified as Business Income.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Excise duty refund claim - capital gain or busniss income - Where there is a refund of excise duty it would go to reduce the project cost/capital work in progress since it is relatable only to the capital assets - duty drawback reduce the project cost and therefore cannot be treated as business income....