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M/S Jagraon Exports vs C.I.T-I Ludhiana

Supreme Court18 February 2016Rohinton Fali Nariman · Kurian Joseph

Ratio decidendi

The rule this decision rests on

Sale proceeds generated from the sale of scrap are not to be included in the total turnover for the purpose of claiming deduction under Section 80HHC of the Income Tax Act, 1961.

Written by Miss Lucy from the judgment below, not taken from a headnote.

Judgment

As delivered

NON-REPORTABLE
IN THE SUPREME COURT OF INDIACIVIL APPELLATE JURISDICTION
CIVIL APPEAL NO.5759 OF 2012
M/S JAGRAON EXPORTS APPELLANT
VERSUS
C.I.T-I LUDHIANA RESPONDENT
WITH
CIVIL APPEAL NO.5760 OF 2012
WITH
CIVIL APPEAL NO.5761 OF 2012
WITH
CIVIL APPEAL NO.5762 OF 2012
WITH
CIVIL APPEAL NO.5763 OF 2012
WITH
CIVIL APPEAL NO.5764 OF 2012
WITH
CIVIL APPEAL NO.5765 OF 2012
WITH
CIVIL APPEAL NOS.5766-5771 OF 2012
WITH
CIVIL APPEAL NO.5772 OF 2012
WITH
CIVIL APPEAL NO.2531 OF 2013
WITH
CIVIL APPEAL NO.10916 OF 2013
J U D G M E N T
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 Vs. Punjab Stainless Steel Industries & Ors. 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.

.................J. [KURIAN JOSEPH]

....................J. [ROHINTON FALI NARIMAN] NEW DELHI;

FEBRUARY 18, 2016

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