https://www.taxtmi.com/caselaws?id=170026 The High Court clarified the computation of relief under section 80HHC of the Income-tax Act, ruling in favor of the applicant, a pharmaceutical company. The court held that conversion charges earned through the manufacturing process should not be deducted from the profits of the business for relief computation under section 80HHC. Emphasizing the need to differentiate profits from export business, the court highlighted the balance required to prevent undue claims for deductions. The judgment provided clarity on the treatment of specific receipts and charges, ensuring a balanced approach to deductions under the Income-tax Act. en-us Fri, 11 Jul 2014 00:00:00 +0530 Thu, 14 May 2015 17:59:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170026 The High Court clarified the computation of relief under section 80HHC of the Income-tax Act, ruling in favor of the applicant, a pharmaceutical company. The court held that conversion charges earned through the manufacturing process should not be deducted from the profits of the business for relief computation under section 80HHC. Emphasizing the need to differentiate profits from export business, the court highlighted the balance required to prevent undue claims for deductions. The judgment provided clarity on the treatment of specific receipts and charges, ensuring a balanced approach to deductions under the Income-tax Act. Case-Laws Income Tax Fri, 11 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170026