https://www.taxtmi.com/caselaws?id=207987 The High Court affirmed the Tribunal's decision that aggregate brought forward losses from both export and non-export activities must be set off in determining the "profit of the business" for computing deductions under Section 80HHC of the Income Tax Act. The Court emphasized that Section 80HHC requires considering both profits and losses to arrive at the deduction figure, in line with the Supreme Court's interpretation in IPCA Laboratory Ltd. The appeal was dismissed, upholding the Tribunal's decision. en-us Fri, 16 Dec 2011 00:00:00 +0530 Fri, 30 Dec 2011 11:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207987 The High Court affirmed the Tribunal's decision that aggregate brought forward losses from both export and non-export activities must be set off in determining the "profit of the business" for computing deductions under Section 80HHC of the Income Tax Act. The Court emphasized that Section 80HHC requires considering both profits and losses to arrive at the deduction figure, in line with the Supreme Court's interpretation in IPCA Laboratory Ltd. The appeal was dismissed, upholding the Tribunal's decision. Case-Laws Income Tax Fri, 16 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207987