https://www.taxtmi.com/caselaws?id=246242 The High Court ruled in favor of the Department, determining that the term 'business' in section 80HHC(3) of the Income Tax Act includes all businesses conducted by the Assessee, not limited to export-oriented activities. The Court emphasized that the calculation of deductions should consider profits and turnover from all business operations, rejecting the Assessee's argument for a restricted interpretation based on export activities. This decision clarifies the methodology for calculating deductions under section 80HHC, emphasizing a comprehensive approach encompassing all businesses of the Assessee. en-us Thu, 10 Apr 2014 00:00:00 +0530 Sat, 19 Apr 2014 11:10:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246242 The High Court ruled in favor of the Department, determining that the term 'business' in section 80HHC(3) of the Income Tax Act includes all businesses conducted by the Assessee, not limited to export-oriented activities. The Court emphasized that the calculation of deductions should consider profits and turnover from all business operations, rejecting the Assessee's argument for a restricted interpretation based on export activities. This decision clarifies the methodology for calculating deductions under section 80HHC, emphasizing a comprehensive approach encompassing all businesses of the Assessee. Case-Laws Income Tax Thu, 10 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246242