https://www.taxtmi.com/caselaws?id=207065 The High Court upheld the re-assessment completed under Section 147 of the Income Tax Act, withdrawing excess deduction on export profit under Section 80HHC. The court found that the reassessment was made in accordance with the amended provisions of the Act, specifically for cases where the export turnover exceeded Rs. 10 crores. As the appellant did not meet the conditions for deduction on export profits, the Assessing Officer revised the assessment, leading to the dismissal of the appeal challenging the reassessment's validity or the computation of export profit under Section 80HHC for the relevant assessment year. en-us Wed, 07 Sep 2011 00:00:00 +0530 Sat, 26 Nov 2011 08:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207065 The High Court upheld the re-assessment completed under Section 147 of the Income Tax Act, withdrawing excess deduction on export profit under Section 80HHC. The court found that the reassessment was made in accordance with the amended provisions of the Act, specifically for cases where the export turnover exceeded Rs. 10 crores. As the appellant did not meet the conditions for deduction on export profits, the Assessing Officer revised the assessment, leading to the dismissal of the appeal challenging the reassessment's validity or the computation of export profit under Section 80HHC for the relevant assessment year. Case-Laws Income Tax Wed, 07 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207065