(Kurian Joseph and Rohinton Fali Nariman, JJ.)
M/s. Jagraon Exports _______ Appellant
v.
C.I.T-I Ludhiana ___________ Respondent
Civil Appeal No. 5759 of 2012, decided on February 18, 2016
With
Civil Appeal No. 5760 of 2012, Civil Appeal No. 5761 of 2012, Civil Appeal No. 5762 of 2012, Civil Appeal No. 5763 of 2012, Civil Appeal No. 5764 of 2012, Civil Appeal No. 5765 of 2012, Civil Appeal Nos. 5766-5771 of 2012, Civil Appeal No. 5772 of 2012, Civil Appeal No. 2531 of 2013, Civil Appeal No. 10916 of 2013
The Judgement of the court was delivered by
Kurian, J.:—
1. The issue in these appeals pertains to the question whether the proceeds generated from the sale of scrap would be included in the total turnover.
2. In the recent decision of this Court in Commissioner of Income Tax v. Punjab Stainless Steel Industries reported in [2014] 364 ITR 144 (SC) it has been held that sale proceeds generated from the sale of scrap would not be included in the total turnover for the purpose of deduction under Section 80HHC of the Income Tax Act, 1961.
3. The appeals are allowed in terms of the judgment referred to above.
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