https://www.taxtmi.com/caselaws?id=334354 The court analyzed the interpretation of Section 80HHC deduction for a garment export business. The Income Tax Appellate Tribunal allowed the appeal, granting the deduction based on the export turnover ratio. The Supreme Court emphasized immediate proximity between income earning activity and export business for income to qualify under the provision. While the assessee cited precedent, the court ruled in favor of the revenue, stating the income must directly relate to the industrial undertaking for the deduction. The appeal was allowed in favor of the revenue, rejecting the assessee's claim. en-us Wed, 19 Oct 2016 00:00:00 +0530 Thu, 10 Nov 2016 17:45:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334354 The court analyzed the interpretation of Section 80HHC deduction for a garment export business. The Income Tax Appellate Tribunal allowed the appeal, granting the deduction based on the export turnover ratio. The Supreme Court emphasized immediate proximity between income earning activity and export business for income to qualify under the provision. While the assessee cited precedent, the court ruled in favor of the revenue, stating the income must directly relate to the industrial undertaking for the deduction. The appeal was allowed in favor of the revenue, rejecting the assessee's claim. Case-Laws Income Tax Wed, 19 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334354