https://www.taxtmi.com/caselaws?id=249483 The High Court remitted the matter back to the ITAT for reevaluation of the treatment of a premium on licenses against export eligibility for deduction under sec. 80HHC, emphasizing the need to consider the Fifth proviso and the 2005 Amendment. Additionally, the Court ruled in favor of the assessee regarding the determination of the applicable clause under sec. 80HHC for a business engaged in cutting and polishing rough diamonds, citing a previous decision and a 1984 Circular supporting the eligibility of cut and polished diamonds for deduction. The ITAT was directed to reconsider the issues within six months. en-us Tue, 01 Jul 2014 00:00:00 +0530 Tue, 15 Jul 2014 08:06:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249483 The High Court remitted the matter back to the ITAT for reevaluation of the treatment of a premium on licenses against export eligibility for deduction under sec. 80HHC, emphasizing the need to consider the Fifth proviso and the 2005 Amendment. Additionally, the Court ruled in favor of the assessee regarding the determination of the applicable clause under sec. 80HHC for a business engaged in cutting and polishing rough diamonds, citing a previous decision and a 1984 Circular supporting the eligibility of cut and polished diamonds for deduction. The ITAT was directed to reconsider the issues within six months. Case-Laws Income Tax Tue, 01 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249483