https://www.taxtmi.com/caselaws?id=222091 The Court ruled in favor of the assessee, a partnership firm, in a dispute over the interpretation of Section 80 HHC of the Income Tax Act regarding deduction claims for sales made to foreign tourists against foreign currency, including counter sales. The Court held that counter sales to foreigners against foreign currency qualified as export sales under Section 80 HHC, as they involved customs clearance and were in convertible foreign exchange. Consequently, the Court granted the deduction claimed by the assessee for counter sales made to foreign tourists against foreign currency for the relevant assessment year, overturning the Tribunal's decision. en-us Tue, 19 Mar 2013 00:00:00 +0530 Sun, 14 Apr 2013 12:53:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=222091 The Court ruled in favor of the assessee, a partnership firm, in a dispute over the interpretation of Section 80 HHC of the Income Tax Act regarding deduction claims for sales made to foreign tourists against foreign currency, including counter sales. The Court held that counter sales to foreigners against foreign currency qualified as export sales under Section 80 HHC, as they involved customs clearance and were in convertible foreign exchange. Consequently, the Court granted the deduction claimed by the assessee for counter sales made to foreign tourists against foreign currency for the relevant assessment year, overturning the Tribunal's decision. Case-Laws Income Tax Tue, 19 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=222091