https://www.taxtmi.com/caselaws?id=5163 The Supreme Court held that to claim a deduction under section 80HHC of the Income-tax Act, an assessee must have positive profits from the export of goods. The Court emphasized that losses in the export of trading goods would disqualify the assessee from claiming the deduction, even if profits were made from self-manufactured goods. As the records did not clearly show whether the assessee had earned positive profits, the Court remitted the matter to the High Court for further examination to determine eligibility for the deduction based on the requirement of positive profits as per section 80HHC. en-us Thu, 08 Dec 2005 00:00:00 +0530 Thu, 19 Feb 2015 17:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5163 The Supreme Court held that to claim a deduction under section 80HHC of the Income-tax Act, an assessee must have positive profits from the export of goods. The Court emphasized that losses in the export of trading goods would disqualify the assessee from claiming the deduction, even if profits were made from self-manufactured goods. As the records did not clearly show whether the assessee had earned positive profits, the Court remitted the matter to the High Court for further examination to determine eligibility for the deduction based on the requirement of positive profits as per section 80HHC. Case-Laws Income Tax Thu, 08 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5163