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The High Court of Allahabad considered a case involving the taxability of scrap sale proceeds. The Department sought to refer two questions of law, one regarding the taxability of scrap sale proceeds and the other about deductibility of scrap value from the actual cost of assets for depreciation. The Tribunal upheld the Commissioner's decision regarding the taxability issue but did not conclusively decide on the deductibility matter. The High Court directed the Tribunal to refer the second question for consideration.
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