DY. COMMISSIONER OF INCOME TAX, CIRCLE-4,, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -
In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes
ITA 794/CHANDI/2023[2016-17]Status: DisposedITAT Chandigarh25 Nov 2024AY 2016-17
Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)
Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263
reassessment proceedings, the assessee had claimed the deduction u/s 80IC on the profit of Haridwar unit. The NFAC has reduced the deduction on account of “cash discount earned” on the purchases made for the purpose of manufacturing by separately recording as income as “cash discount” which was clubbed under the head “Miscellaneous Income” instead of reducing the same from cost
