https://www.taxtmi.com/caselaws?id=66683 For section 80HHC, the Tribunal held that import entitlement benefit reflected through contra debit and credit entries did not constitute gross turnover and only the net amount actually recognised as income could be included in the computation; the assessee succeeded on that point. The benefit was, however, not taxable as cash assistance or any other export incentive under section 28, so that contention failed. For sections 80HH and 80-I, receipts such as interest on deposits and loans, discount received, foreign exchange fluctuation and sales tax refund were treated as derived from the industrial undertaking and allowed, while the revised supporting manufacturer claim under section 80HHC(1A) could not be rejected merely because the audit certificate showed a nil figure, and the matter required fresh computation in accordance with law. en-us Fri, 24 Jan 2003 00:00:00 +0530 Sat, 05 Mar 2011 16:06:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66683 For section 80HHC, the Tribunal held that import entitlement benefit reflected through contra debit and credit entries did not constitute gross turnover and only the net amount actually recognised as income could be included in the computation; the assessee succeeded on that point. The benefit was, however, not taxable as cash assistance or any other export incentive under section 28, so that contention failed. For sections 80HH and 80-I, receipts such as interest on deposits and loans, discount received, foreign exchange fluctuation and sales tax refund were treated as derived from the industrial undertaking and allowed, while the revised supporting manufacturer claim under section 80HHC(1A) could not be rejected merely because the audit certificate showed a nil figure, and the matter required fresh computation in accordance with law. Case-Laws Income Tax Fri, 24 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66683