Deduction under section 80-HHC: exports of cut and polished diamonds and gemstones qualify where processing and customs certification exist. The instruction explains that because raw diamonds cannot be exported, imported rough diamonds are processed in India and exported as cut and polished stones with Customs certification, and because replenishment imports and imprest licences tie imports to actual exports, exports of cut and polished diamonds and gemstones do not amount to 'minerals and ores' and thus qualify for deduction under section 80-HHC.
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.
Deduction under section 80-HHC: exports of cut and polished diamonds and gemstones qualify where processing and customs certification exist.
The instruction explains that because raw diamonds cannot be exported, imported rough diamonds are processed in India and exported as cut and polished stones with Customs certification, and because replenishment imports and imprest licences tie imports to actual exports, exports of cut and polished diamonds and gemstones do not amount to "minerals and ores" and thus qualify for deduction under section 80-HHC.
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