https://www.taxtmi.com/caselaws?id=258313 The court held that deductions under Section 80HHC of the Income Tax Act are only permissible if there are profits from the export business alone, and losses in the export business cannot be offset by profits from the domestic business. The prescribed formula for computation of deduction applies only when there are positive profits from the export business. The appellant's appeal was dismissed, affirming the lower authorities' decisions that denied the deduction due to losses in the export business. en-us Wed, 01 Apr 2015 00:00:00 +0530 Sat, 18 Aug 2018 15:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258313 The court held that deductions under Section 80HHC of the Income Tax Act are only permissible if there are profits from the export business alone, and losses in the export business cannot be offset by profits from the domestic business. The prescribed formula for computation of deduction applies only when there are positive profits from the export business. The appellant's appeal was dismissed, affirming the lower authorities' decisions that denied the deduction due to losses in the export business. Case-Laws Income Tax Wed, 01 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258313