https://www.taxtmi.com/caselaws?id=216838 The case involved appeals by the Revenue regarding deduction under Section 80HHC of the Income Tax Act for assessment years 1990-91 and 1991-92. The assessee's export business resulted in a loss, leading to proceedings to disallow the deduction initially allowed. The Income Tax Appellate Tribunal upheld the first appellate authority's decision to allow the deduction. However, the Supreme Court ruled in favor of the Revenue, setting aside the previous decisions and disallowing the deduction claimed by the assessee due to incurring a net loss in export activities. en-us Mon, 09 Jul 2012 00:00:00 +0530 Wed, 12 Sep 2012 13:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216838 The case involved appeals by the Revenue regarding deduction under Section 80HHC of the Income Tax Act for assessment years 1990-91 and 1991-92. The assessee's export business resulted in a loss, leading to proceedings to disallow the deduction initially allowed. The Income Tax Appellate Tribunal upheld the first appellate authority's decision to allow the deduction. However, the Supreme Court ruled in favor of the Revenue, setting aside the previous decisions and disallowing the deduction claimed by the assessee due to incurring a net loss in export activities. Case-Laws Income Tax Mon, 09 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216838