https://www.taxtmi.com/caselaws?id=249637 The High Court upheld the Tribunal's decision on deductions for trading exports under Section 80HHC, emphasizing the reduction of direct and indirect costs from export turnover. It confirmed the correct calculation of indirect costs and dismissed the Revenue's appeal on this issue. Regarding prior period expenses under Section 115JA, the Court supported the inclusion of such expenses in taxable income computation, rejecting the Assessing Officer's attempt to exclude them. The Court emphasized adherence to statutory provisions and dismissed the Revenue's appeal, concluding the case without raising further legal questions. en-us Tue, 13 Dec 2011 00:00:00 +0530 Fri, 18 Jul 2014 15:19:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249637 The High Court upheld the Tribunal's decision on deductions for trading exports under Section 80HHC, emphasizing the reduction of direct and indirect costs from export turnover. It confirmed the correct calculation of indirect costs and dismissed the Revenue's appeal on this issue. Regarding prior period expenses under Section 115JA, the Court supported the inclusion of such expenses in taxable income computation, rejecting the Assessing Officer's attempt to exclude them. The Court emphasized adherence to statutory provisions and dismissed the Revenue's appeal, concluding the case without raising further legal questions. Case-Laws Income Tax Tue, 13 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249637