https://www.taxtmi.com/caselaws?id=249526 The High Court remitted the matter back to the ITAT for fresh consideration on the treatment of 8% premium on licenses against export deduction under sec. 80HHC, emphasizing the need to review in light of the Fifth proviso and the 2005 amendment. Regarding cutting and polishing rough diamonds for export, the Court ruled in favor of the assessee, citing relevant legal provisions and precedents to allow deduction under sec. 80HHC for trading polished diamonds, ensuring a fair outcome. en-us Wed, 02 Jul 2014 00:00:00 +0530 Wed, 16 Jul 2014 11:35:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249526 The High Court remitted the matter back to the ITAT for fresh consideration on the treatment of 8% premium on licenses against export deduction under sec. 80HHC, emphasizing the need to review in light of the Fifth proviso and the 2005 amendment. Regarding cutting and polishing rough diamonds for export, the Court ruled in favor of the assessee, citing relevant legal provisions and precedents to allow deduction under sec. 80HHC for trading polished diamonds, ensuring a fair outcome. Case-Laws Income Tax Wed, 02 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249526