2019 (3) TMI 1886

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..... ises - Did ITAT fall into error in holding that the income derived from the sale of reject coal and iron ore fine dust was entitled for deduction under Section 80-IB of the Income Tax Act having regard to the decision of the Supreme Court in Liberty India vs. Commissioner of Income Tax [ 2009 (8) TMI 63 - SUPREME COURT] and Commissioner of Income Tax-II vs. Punjab Stainless Steel Industries [ 2001 .....

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..... ted. Although, the transaction involved a notional sales nevertheless they have commercial element in as much as they were deemed to be sales and consequently included in the return of the local tax turnovers, filed by the assessee. As a consequence, the decision of the lower appellate authorities and the ITAT are affirmed on this aspect.
HON'BLE MR. JUSTICE S. RAVINDRA BHAT AND HON'BLE MR. JUS .....

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..... that the write-off in respect of advances given to M/s Bear Logistics LLC to the tune of [₹ 3.89 crores] was justified having regard to the decision of the Supreme Court in Southern Technologies Ltd. vs. Joint CIT (2010) 320 ITR 577 (SC)? The third question urged in ITA 211/2019 is with respect to the inclusion of local taxes and duties in the turnover and the relief given by the lower appe .....

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