https://www.taxtmi.com/caselaws?id=212488 The court held that the assessee was entitled to the deduction under section 80HHC of the Income-tax Act, 1961, despite goods not physically passing through Indian customs. The court clarified that the focus is on earning foreign exchange, not the physical export of goods from India. The decision favored the assessee, granting the benefit of the deduction. Additionally, the court ruled in favor of the assessee regarding the validity of the levy of interest under section 234B, which was indirectly impacted by the judgment on section 80HHC. The appeals were allowed, setting aside the impugned orders, and no costs were awarded. en-us Fri, 21 Oct 2011 00:00:00 +0530 Fri, 18 May 2012 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212488 The court held that the assessee was entitled to the deduction under section 80HHC of the Income-tax Act, 1961, despite goods not physically passing through Indian customs. The court clarified that the focus is on earning foreign exchange, not the physical export of goods from India. The decision favored the assessee, granting the benefit of the deduction. Additionally, the court ruled in favor of the assessee regarding the validity of the levy of interest under section 234B, which was indirectly impacted by the judgment on section 80HHC. The appeals were allowed, setting aside the impugned orders, and no costs were awarded. Case-Laws Income Tax Fri, 21 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212488