https://www.taxtmi.com/caselaws?id=63320 The Tribunal allowed the appeal in favor of the assessee, directing adjustments to deductions under Sections 80M and 80HHC. For Section 80M, the Tribunal instructed the AO to allow deductions after reducing direct expenditure from the gross dividend, as there was no evidence of additional interest expenses. Under Section 80HHC(3)(b), the Tribunal excluded interest expenses unrelated to exports from indirect costs. Additionally, the Tribunal ruled that export incentives should not be apportioned between the export house and supporting manufacturer without a disclaimer certificate, ensuring profits from export trading goods exclude such incentives. en-us Fri, 27 Apr 2007 00:00:00 +0530 Fri, 16 Feb 2024 09:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63320 The Tribunal allowed the appeal in favor of the assessee, directing adjustments to deductions under Sections 80M and 80HHC. For Section 80M, the Tribunal instructed the AO to allow deductions after reducing direct expenditure from the gross dividend, as there was no evidence of additional interest expenses. Under Section 80HHC(3)(b), the Tribunal excluded interest expenses unrelated to exports from indirect costs. Additionally, the Tribunal ruled that export incentives should not be apportioned between the export house and supporting manufacturer without a disclaimer certificate, ensuring profits from export trading goods exclude such incentives. Case-Laws Income Tax Fri, 27 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63320