https://www.taxtmi.com/caselaws?id=8251 For export profit rebate under rule 2(3), "total income" means total income computed under the Income-tax Act, 1961, not export profits in isolation. The qualifying income is to be worked out on the assessee's whole business income after permissible set-off of business losses against profits from other sources, so the export business cannot be severed from other business activities for rebate calculation. On the stated figures, the qualifying income is Rs. 96,690 rather than Rs. 2,01,107. en-us Tue, 22 Dec 1970 00:00:00 +0530 Mon, 06 Apr 2009 15:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8251 For export profit rebate under rule 2(3), "total income" means total income computed under the Income-tax Act, 1961, not export profits in isolation. The qualifying income is to be worked out on the assessee's whole business income after permissible set-off of business losses against profits from other sources, so the export business cannot be severed from other business activities for rebate calculation. On the stated figures, the qualifying income is Rs. 96,690 rather than Rs. 2,01,107. Case-Laws Income Tax Tue, 22 Dec 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8251