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Section 10A4 Section 40A(3)3 Section 803 Section 753 Section 143(3)2 Section 372 Deduction2

SHRI NITIN AIMA,SHRINAGAR vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-3, SRINAGAR

The appeal of the assessee is dismissed

ITA 83/ASR/2020[2015-16]Status: DisposedITAT Amritsar27 Feb 2025AY 2015-16

Section 10ASection 143(3)Section 250Section 37Section 75Section 80

183 ITR 1 the duty drawback should be reduced from the\nvalue of purchases as a result of which the profits earned from exports\nwill only be in respect of value of sales credited to the Manufacturing\n& Trading account. The concept of netting of interest was also\napproved by the Supreme Court in the case of M/s ACG Associated

THE INCOME TAX OFFICER, AMRITSAR. vs. SH. SHIV RAJ SINGH BAWA, AMRITSAR.

In the result, the Revenue’s appeal is allowed and the assessee’s CO, dismissed