https://www.taxtmi.com/caselaws?id=62731 The Tribunal allowed the appeal filed by the assessee regarding the disallowance of deduction claimed under section 80HHC of the IT Act, 1961 for the assessment year 1997-98. The Tribunal held that the amount received on account of exchange difference should be considered part of the total turnover, constituting the turnover of the assessee. It emphasized that exchange rate fluctuation difference is part of sales and remains attributable to the export, leading to an increase or decrease in export turnover figures. Consequently, the Tribunal directed the grant of deduction under section 80HHC of the Act. en-us Thu, 15 Apr 2004 00:00:00 +0530 Thu, 14 Jun 2012 17:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62731 The Tribunal allowed the appeal filed by the assessee regarding the disallowance of deduction claimed under section 80HHC of the IT Act, 1961 for the assessment year 1997-98. The Tribunal held that the amount received on account of exchange difference should be considered part of the total turnover, constituting the turnover of the assessee. It emphasized that exchange rate fluctuation difference is part of sales and remains attributable to the export, leading to an increase or decrease in export turnover figures. Consequently, the Tribunal directed the grant of deduction under section 80HHC of the Act. Case-Laws Income Tax Thu, 15 Apr 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62731