https://www.taxtmi.com/caselaws?id=240703 The High Court upheld the Tribunal's decision, confirming the assessee's entitlement to the deduction under section 80HHC of the Income-tax Act. The Court emphasized the Tribunal's reliance on substantial documentary evidence supporting the genuineness of the exports, including the retraction of a statement by a key individual involved. Consequently, the penalty imposed under section 271(1)(c) for concealment of income was also canceled by the Tribunal. The Court found no reason to overturn these decisions, dismissing the Revenue's appeals and ruling in favor of the assessee on all significant legal issues. en-us Fri, 28 Sep 2012 00:00:00 +0530 Sat, 07 Dec 2013 17:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240703 The High Court upheld the Tribunal's decision, confirming the assessee's entitlement to the deduction under section 80HHC of the Income-tax Act. The Court emphasized the Tribunal's reliance on substantial documentary evidence supporting the genuineness of the exports, including the retraction of a statement by a key individual involved. Consequently, the penalty imposed under section 271(1)(c) for concealment of income was also canceled by the Tribunal. The Court found no reason to overturn these decisions, dismissing the Revenue's appeals and ruling in favor of the assessee on all significant legal issues. Case-Laws Income Tax Fri, 28 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240703