https://www.taxtmi.com/caselaws?id=256367 The High Court upheld the Tribunal's decision in a case involving deductions under Sections 80HH, 80HHC, and 80I of the Income Tax Act for an exporter for the assessment year 1994-95. The Court ruled that interest earned on deposits related to business activities qualified for deduction under the Act. It also confirmed the inclusion of foreign exchange fluctuation as income eligible for deduction under Section 80HH. Additionally, the Court supported the exclusion of the unused portion of Import Duty Entitlement Benefit from the total turnover for calculating deductions under Section 80HHC. The appeal by the Revenue was dismissed, affirming the respondent's claims. en-us Tue, 02 Dec 2014 00:00:00 +0530 Thu, 07 May 2015 17:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256367 The High Court upheld the Tribunal's decision in a case involving deductions under Sections 80HH, 80HHC, and 80I of the Income Tax Act for an exporter for the assessment year 1994-95. The Court ruled that interest earned on deposits related to business activities qualified for deduction under the Act. It also confirmed the inclusion of foreign exchange fluctuation as income eligible for deduction under Section 80HH. Additionally, the Court supported the exclusion of the unused portion of Import Duty Entitlement Benefit from the total turnover for calculating deductions under Section 80HHC. The appeal by the Revenue was dismissed, affirming the respondent's claims. Case-Laws Income Tax Tue, 02 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256367