Supreme Court of India
Commnr. of Income Tax-vii, New Delhi v. Punjab Stainless Steel Industries
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1 Supreme Court bench has cited this judgment.
What the Court ordered
For the aforesaid reasons, we dismiss the appeal with no order as to costs.
Judgment, page 14
From the headnote
Income Tax Act, 1961: 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 includible. s. 80-HHC - Object of - Discussed. Turnover - Meaning of - Discussed. The respondent-assessee is a manufacturer and exporter of stainless steel utensils. In the process of manufacturing stainless steel utensils, some unused portion of the steel was treated as scrap and disposed of in the local market. The
Authorities it was built on
Where later benches applied it
Of those, 1 mentioned
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