https://www.taxtmi.com/caselaws?id=235257 The High Court ruled in favor of the revenue, holding that the assessee was not entitled to the deduction under Section 80HHC for income from transferring export quotas as it lacked a direct nexus to export activities. The Court overturned the Tribunal's decision and reinstated the Appellate Commissioner's order, emphasizing that the income must directly result from export to qualify for the deduction. The judgment aligned with precedents emphasizing the necessity of a direct connection between the income and export activities, ultimately denying the assessee's claim for Section 80HHC benefits. en-us Thu, 06 Jun 2013 00:00:00 +0530 Fri, 25 Oct 2013 16:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235257 The High Court ruled in favor of the revenue, holding that the assessee was not entitled to the deduction under Section 80HHC for income from transferring export quotas as it lacked a direct nexus to export activities. The Court overturned the Tribunal's decision and reinstated the Appellate Commissioner's order, emphasizing that the income must directly result from export to qualify for the deduction. The judgment aligned with precedents emphasizing the necessity of a direct connection between the income and export activities, ultimately denying the assessee's claim for Section 80HHC benefits. Case-Laws Income Tax Thu, 06 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235257