Excise Duty Exemption is Capital Receipt, neither chargeable to Income Tax nor categorised under Book Profit: ITAT [Read Order]

Excise duty - capital receipt - Income-tax - book profit - ITAT - taxscan

The Kolkata Bench, of the Income Tax Appellate Tribunal, held that excise duty exemption is a capital receipt which neither chargeable to Income Tax nor categorised under book profit. The assessee ,Greenply Industries ltd engaged in the business of manufacturing and trading plywood, laminate and allied products for which they filed an e-return of income…

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