Refund of excise duty paid on acquisition of capital asset couldn’t be treated as business income; SLP dismissed

INCOME TAX : SLP dismissed against High Court ruling that where assessee in respect of materials purchased paid excise duty to vendors in relevant assessment year and its project was not in operation during said year and it lodged a claim for refund of excise duty with Director General of Foreign Trade as deemed export benefits, since amount of excise duty related to cost of acquisition of capital assets/project

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000197584/refund-of-excise-duty-paid-on-acquisition-of-capital-asset-couldn’t-be-treated-as-business-income-slp-dismissed.aspx