NON-REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO.5759 OF 2012 M/S JAGRAON EXPORTS APPELLANT VERSUS C.I.T-I LUDHIANA RESPONDENT 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 1 Page 1 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] NEW DELHI; FEBRUARY 18, 2016 . J.
[ROHINTON FALI NARIMAN] 2 Page 2