Tribunal held that the sale of scrap, any income from such scrap would tantamount to recoupment of cost of raw material/production and, therefore, was includible in profits of business for purpose of S. 80HHC of the Act. (AY. 2004-05)
Mahindra & Mahindra Ltd. v. DCIT (2020) 180 ITD 776 (Mum.)(Trib.)
S. 80HHC : Export business–Sale of scrap-Income from such scrap would tantamount to recoupment of cost of raw material/production and, therefore, was includible in profits of business.