Income Tax Appellate Tribunal Itat Madras Court August 2006 Judgments Home Cases Income Tax Appellate Tribunal Itat Madras 2006 Page 1 of about 1 results (0.018 seconds)

Joint Commissioner of Vs. Tractors and Farm Equipments Ltd.

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (2007)104ITD149(Chennai)

1. These appeals by the assessee and revenue are directed against the respective orders of Commissioner of Income-tax (Appeals) for assessment years 1995-96 and 1996-97. Since the appeals were heard together and issues are related, the same are being consolidated and disposed off together for the sake of convenience.The first issue raised is that the Commissioner of Income-tax (Appeals) erred in confirming the addition of excise duty and sales tax to the turn over for the purpose of computation of deduction under Section 80HHC.3. It transpires that this issue is covered in favour of the assessee by the Hon'ble jurisdictional High Court decision in CIT v. Sundaram Fasteners Ltd. . In this case, it was held that excise duty and sales tax have to be excluded from turn over for the purposes of Section 80HHC. Respectfully following the precedent, we decide the issue in favour of the assessee and against the revenue.4. The next issue raised is that the Commissioner of Income-tax (Appeals) e...