https://www.taxtmi.com/caselaws?id=258455 The court dismissed the Income Tax Appeal, ruling in favor of the assessee regarding the interpretation of section 80HHC of the Income Tax Act. The court held that proof of customs clearance for counter sales made to foreign tourists was not a prerequisite for claiming the deduction. Citing legal precedents, including the decision in CIT vs. Silver & Arts Palace, the court emphasized that transactions against convertible foreign exchange are eligible for deduction under section 80HHC. The court concluded that the Sale To Foreign Tourists Voucher and transaction nature provided sufficient evidence for the deduction, affirming the consistent stance of higher courts on the issue. en-us Mon, 16 Feb 2015 00:00:00 +0530 Fri, 10 Apr 2015 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258455 The court dismissed the Income Tax Appeal, ruling in favor of the assessee regarding the interpretation of section 80HHC of the Income Tax Act. The court held that proof of customs clearance for counter sales made to foreign tourists was not a prerequisite for claiming the deduction. Citing legal precedents, including the decision in CIT vs. Silver & Arts Palace, the court emphasized that transactions against convertible foreign exchange are eligible for deduction under section 80HHC. The court concluded that the Sale To Foreign Tourists Voucher and transaction nature provided sufficient evidence for the deduction, affirming the consistent stance of higher courts on the issue. Case-Laws Income Tax Mon, 16 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258455