https://www.taxtmi.com/caselaws?id=337803 A trader's sales-tax refund was treated as a reduction in purchase cost, not as detached income, because it had a direct nexus with export activity under the applicable sales tax framework. On that basis, the refund was considered part of eligible export profit for deduction under section 80HHC of the Income-tax Act, 1961. Explanation (baa) was said not to apply to exclude the receipt from business profits in the trader's computation. The reasoning was aligned with the Bombay High Court and Supreme Court authorities relied on, and the Revenue's objection was rejected. en-us Fri, 13 Jan 2017 00:00:00 +0530 Wed, 18 Jan 2017 08:45:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337803 A trader's sales-tax refund was treated as a reduction in purchase cost, not as detached income, because it had a direct nexus with export activity under the applicable sales tax framework. On that basis, the refund was considered part of eligible export profit for deduction under section 80HHC of the Income-tax Act, 1961. Explanation (baa) was said not to apply to exclude the receipt from business profits in the trader's computation. The reasoning was aligned with the Bombay High Court and Supreme Court authorities relied on, and the Revenue's objection was rejected. Case-Laws Income Tax Fri, 13 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337803