SUPREME COURT OF INDIA

Jagraon Exports

Vs.

C.I.T-I Ludhiana

C.A.No.5759 of 2012

(Kurian Joseph and R.F.Nariman,JJ.)

18.02.2016

JUDGMENT

Kurian Joseph,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. Reported¹ in it has been held that sale proc -eeds generated from the sale of scrap would not be included in the total turnover for the pur-pose of deduction under Section 80HHC of the Income Tax Act, 1961.

3.  The appeals are allowed in terms of the judgment referred to above.

Judgment Referred.

¹(2014) 364 ITR 144 SC