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Commissioner Of Income Tax, Chennai v. Shiva Tex Yarn Limited

Commissioner Of Income Tax, Chennai v. Shiva Tex Yarn Limited

(Supreme Court Of India)

Civil Appeal No. 614 Of 2008 | 04-09-2012

1. Heard the learned counsel on both sides.

2. This civil appeal filed by the Department concerns Assessment Year 2001-2002. The question involved in this appeal is: whether excise duty and sales tax need to be included in the total turnover in the formula “business income” multiplied by “export turnover” and divided by “total turnover” in Section 80-HHC(3) of the Income Tax Act, 1961

3. This question has been answered in favour of the assessee in CIT v. Lakshmi Machine Works (2007) 11 SCC 126 [LQ/SC/2007/559] ). Accordingly, the civil appeal filed by the Department stands dismissed with no order as to costs.

Advocate List
  • For the Appellant --------- For the Respondent -----
Bench
  • HON'BLE CHIEF JUSTICE MR. S.H. KAPADIA
  • HON'BLE MR. JUSTICE MADAN B. LOKUR
Eq Citations
  • (2013) 11 SCC 425
  • (2012) 254 CTR SC 104
  • [2012] 210 TAXMAN 256
  • LQ/SC/2012/738
Head Note

Income Tax — Deductions — Export duty/excise duty/sales tax — Whether to be included in the total turnover — Following Lakshmi Machine Works, (2007) 11 SCC 126, held, excise duty and sales tax need not be included in the total turnover in the formula 'business income' multiplied by 'export turnover' and divided by 'total turnover' in S. 80HHC3 of the Income Tax Act, 1961 — I.T. Act, 1961, S. 80HHC3 — Excise Duty Act, 1944, S. 3