https://www.taxtmi.com/caselaws?id=78780 The Supreme Court held that excise duty should not be included in the total turnover for the computation of deduction under Section 80HHC of the Income Tax Act, 1961. The Court emphasized that the purpose of the formula in Section 80HHC is to disallow a part of the concession when the deduction claimed does not entirely relate to exports. The exclusion of excise duty from the total turnover was supported by the legislative intent to incentivize exports by exempting profits related to exports. The judgment favored the assessee, emphasizing that excise duty should not be considered part of the turnover for the deduction calculation. en-us Fri, 03 Sep 2010 00:00:00 +0530 Fri, 17 Dec 2010 00:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78780 The Supreme Court held that excise duty should not be included in the total turnover for the computation of deduction under Section 80HHC of the Income Tax Act, 1961. The Court emphasized that the purpose of the formula in Section 80HHC is to disallow a part of the concession when the deduction claimed does not entirely relate to exports. The exclusion of excise duty from the total turnover was supported by the legislative intent to incentivize exports by exempting profits related to exports. The judgment favored the assessee, emphasizing that excise duty should not be considered part of the turnover for the deduction calculation. Case-Laws Income Tax Fri, 03 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78780