https://www.taxtmi.com/caselaws?id=152042 ITAT held that for section 80HHC the formula in sub-s. (3)(b) applies where export turnover constitutes total turnover, and export-related commission forms part of profits derived from export business even if the commission itself was not received in convertible foreign exchange, provided sale proceeds were in convertible exchange. The bench directed proportionate deduction of export profits to total profits as per s.80HHC(3)(b). However, the disallowance of interest (treated as relating to loans used to pay income tax) was upheld. Appeals allowed in part. en-us Mon, 25 Jul 1994 00:00:00 +0530 Thu, 16 Oct 2025 18:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152042 ITAT held that for section 80HHC the formula in sub-s. (3)(b) applies where export turnover constitutes total turnover, and export-related commission forms part of profits derived from export business even if the commission itself was not received in convertible foreign exchange, provided sale proceeds were in convertible exchange. The bench directed proportionate deduction of export profits to total profits as per s.80HHC(3)(b). However, the disallowance of interest (treated as relating to loans used to pay income tax) was upheld. Appeals allowed in part. Case-Laws Income Tax Mon, 25 Jul 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152042