https://www.taxtmi.com/caselaws?id=117099 The Tribunal allowed the assessee to raise an additional ground regarding the computation of deduction under section 80HHC, citing no need for fresh evidence. The Tribunal held that losses from trading goods cannot be set off against 90% of export incentives under section 80HHC, following the decision in Avon Cycles Ltd. The Tribunal directed the Assessing Officer to compute the deduction by adding 90% of export incentives to profits, ensuring it does not exceed business profits. Appeals were allowed, and other grounds were rejected. en-us Fri, 21 Feb 2003 00:00:00 +0530 Wed, 20 Jun 2012 13:12:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117099 The Tribunal allowed the assessee to raise an additional ground regarding the computation of deduction under section 80HHC, citing no need for fresh evidence. The Tribunal held that losses from trading goods cannot be set off against 90% of export incentives under section 80HHC, following the decision in Avon Cycles Ltd. The Tribunal directed the Assessing Officer to compute the deduction by adding 90% of export incentives to profits, ensuring it does not exceed business profits. Appeals were allowed, and other grounds were rejected. Case-Laws Income Tax Fri, 21 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117099