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The Tax Publishers2008 TaxPub(DT) 1513 (MP-HC) : (2008) 219 CTR 0499 : (2009) 176 TAXMAN 0285 : (2008) 013 DTR 0057 CIT v. Alpine Solvex Ltd.
INCOME TAX ACT, 1961
Deduction under section 80HH - Allowability -Sale of scrap
Assessee sold scrap and claimed deduction under section 80HH. Held: Income earned from sale of scrap amounts to income derived from industrial undertaking under section 80HH/80-I of the Act, which was engaged in the business of manufacture and sale of V-Belts, oil seals, etc., therefore, Tribunal fell in error in holding that income earned by assessee by sale of gunny bags was an income earned from industrial undertaking within the meaning of section 80HH/80-I ibid and hence, assessee claim was not allowable to claim deduction under section 80HH.
Income-tax Act, 1961, Section 80HH
A.Y. : 1993-94 Decision: In favour of revenue.
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