https://www.taxtmi.com/caselaws?id=185305 The Gujarat High Court upheld the decision of the Appellate Tribunal to exclude excise duty and sales tax from the total turnover for the purpose of deduction under Section 80HHC of the Income Tax Act. Citing precedents from the Supreme Court cases of Lakshmi Machine Works and Shiva Tex Yarn Ltd., the Court emphasized the need for a purposeful interpretation of the provision to segregate export profits from business profits. The Court concluded that excise duty and sales tax should be excluded from total turnover to ensure accurate calculation of export profits, leading to the dismissal of the Tax Appeal. en-us Thu, 26 Dec 2013 00:00:00 +0530 Mon, 22 Aug 2016 12:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185305 The Gujarat High Court upheld the decision of the Appellate Tribunal to exclude excise duty and sales tax from the total turnover for the purpose of deduction under Section 80HHC of the Income Tax Act. Citing precedents from the Supreme Court cases of Lakshmi Machine Works and Shiva Tex Yarn Ltd., the Court emphasized the need for a purposeful interpretation of the provision to segregate export profits from business profits. The Court concluded that excise duty and sales tax should be excluded from total turnover to ensure accurate calculation of export profits, leading to the dismissal of the Tax Appeal. Case-Laws Income Tax Thu, 26 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185305