Supreme Court · 2014 INSC 355 · Decided 5 May 2014
COMMNR. of Income Tax-Vii, New Delhi v. Punjab Stainless Steel Industries
- Court
- Supreme Court of India
- Citation
- 2014 INSC 355 · [2014] 8 S.C.R. 729
- Case number
- CIVIL APPEAL No. 5592/2008
- Decided
- 5 May 2014
- Bench
- ANIL R. DAVE, DIPAK MISRA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
.· Income Tax Act, 1961: A B s. 80-HHC - Deduction - Sale proceeds of unused! c unusable portion of steel scrap sold in local market by fbe steel utensils manufacturer - Whether incltJdible in total turnover for the purpose of calculating deduction u/s.80HHC of the Act - Held: Not of - Discussed. D Turnover - Meaning of - Discussed. The respondent-assessee is a manufacturer and exporter of stainless steel utensils. In the process of E manufacturing stainless steel utensils, some unused portion of the steel was treated as scrap and disposed of in the local market. The
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