https://www.taxtmi.com/caselaws?id=61925 The Tribunal held that the Commissioner was not justified in setting aside the intimation proceedings under section 263 of the Income-tax Act, 1961 for the assessment years 1986-87 and 1987-88. It was determined that profits from sales of goods imported under an import license cannot be considered for section 80HHC deduction. The Tribunal emphasized that matters like the treatment of such income should be decided after due consideration and not through an intimation under section 143(1)(a). As a result, the assessee succeeded in the appeal, and the appeals were allowed. en-us Wed, 18 Jul 2001 00:00:00 +0530 Mon, 17 Jan 2011 10:38:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61925 The Tribunal held that the Commissioner was not justified in setting aside the intimation proceedings under section 263 of the Income-tax Act, 1961 for the assessment years 1986-87 and 1987-88. It was determined that profits from sales of goods imported under an import license cannot be considered for section 80HHC deduction. The Tribunal emphasized that matters like the treatment of such income should be decided after due consideration and not through an intimation under section 143(1)(a). As a result, the assessee succeeded in the appeal, and the appeals were allowed. Case-Laws Income Tax Wed, 18 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61925