https://www.taxtmi.com/caselaws?id=64468 Export incentives contractually diverted to manufacturers or suppliers under a binding arrangement were treated as diverted at source, because the exporter had no beneficial interest in the cash assistance, duty drawback or replenishment benefits and the export policy supported that allocation. The transferred amounts were therefore excluded from the exporter's income. A separate challenge to the taxability of cash assistance failed because the amount had been voluntarily offered as income and retrospective amendments brought it within the charging provisions. The substantive relief on diversion of export incentives was upheld, while the independent legal challenge to taxability did not succeed. en-us Thu, 27 Dec 1990 00:00:00 +0530 Tue, 08 Feb 2011 10:51:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64468 Export incentives contractually diverted to manufacturers or suppliers under a binding arrangement were treated as diverted at source, because the exporter had no beneficial interest in the cash assistance, duty drawback or replenishment benefits and the export policy supported that allocation. The transferred amounts were therefore excluded from the exporter's income. A separate challenge to the taxability of cash assistance failed because the amount had been voluntarily offered as income and retrospective amendments brought it within the charging provisions. The substantive relief on diversion of export incentives was upheld, while the independent legal challenge to taxability did not succeed. Case-Laws Income Tax Thu, 27 Dec 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64468