Scrap is bi-product of manufacturing activity & no expense could be attributed to its generation

HIGH COURT OF PUNJAB AND HARYANA R.N. Gupta Co. Ltd. Versus Commissioner of Income-tax (Appeals)-I IT Appeal No. 119 of 2012 JANUARY  22, 2013 ORDER Hemant Gupta, J. The present appeal under Section 260-A of the Income Tax Act, 1961 arises out of an order passed by the Income Tax Appellate Tribunal, Chandigarh Bench, Chandigarh (for short ‘the Tribunal’) dated 6.1.2012 pertaining to the assessment year 2003-2004 raising following substantial questions of law:- (i) Whether in facts and circumstances of the case, the action of the ld. authorities below in ign...