Sale proceeds of scrap is not turnover for section 80HHC: SC

To ascertain whether the turnover would also include sale proceeds from scrap, one has to know the meaning of the term ‘turnover’. The term ‘turnover’ has neither been defined in the Act nor has been explained by any of the CBDT circulars.

In the aforestated circumstances, one has to look at the meaning of the term ‘turnover’ in ordinary accounting or commercial parlance.

Normally, the term ‘turnover’ would show the sale effected by a business unit. It may happen that in the

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