Central Excise Refund & Sales Tax Remission are admissible deductions u/s 80IC

Brief of the Case

In the case Manoj Garg Vs. ITO the Hon’ble Kolkata ITAT held that both Central Excise Refund and Sales Tax Remission are eligible deductions u/s 80IC and that the CIT was not justified in initiating proceedings u/s 263 of the Act in the instant case on the ground that the income by way of Central Excise Refund and Sales Tax remission were not eligible for deduction u/s. 80-IC of the Act. It also held that where two views were possible and the AO had taken one view with which the CIT

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