Export profits rebate permitted for both registered firms and their partners; apply in pending assessments and appeals. The Board directs that export-profits rebate may be allowed both to a registered firm and to its partners, following the High Court ratio, and supersedes an earlier Board letter that restricted allowance to either the firm or the partners. This position is to be applied in pending assessments and conceded in appeals and revision petitions against completed assessments under the Finance Acts.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Export profits rebate permitted for both registered firms and their partners; apply in pending assessments and appeals.
The Board directs that export-profits rebate may be allowed both to a registered firm and to its partners, following the High Court ratio, and supersedes an earlier Board letter that restricted allowance to either the firm or the partners. This position is to be applied in pending assessments and conceded in appeals and revision petitions against completed assessments under the Finance Acts.
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