https://www.taxtmi.com/caselaws?id=237467 The Supreme Court interpreted Section 80HHC of the Income Tax Act, 1961, clarifying eligibility for deduction on export profits. Referring to the Topman Exports case, it held that an assessee with export turnover exceeding Rs. 10 crores is entitled to deductions under Section 80HHC, including the exclusion of a smaller figure from "profits of the business." The Court set aside judgments of Bombay and Gujarat High Courts, directing the Assessing Officer to compute deductions for the appellants in line with this interpretation. en-us Fri, 02 Aug 2013 00:00:00 +0530 Mon, 20 Aug 2018 16:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237467 The Supreme Court interpreted Section 80HHC of the Income Tax Act, 1961, clarifying eligibility for deduction on export profits. Referring to the Topman Exports case, it held that an assessee with export turnover exceeding Rs. 10 crores is entitled to deductions under Section 80HHC, including the exclusion of a smaller figure from "profits of the business." The Court set aside judgments of Bombay and Gujarat High Courts, directing the Assessing Officer to compute deductions for the appellants in line with this interpretation. Case-Laws Income Tax Fri, 02 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237467