https://www.taxtmi.com/caselaws?id=9338 The Tribunal upheld that HPS groundnuts exported by the assessee did not qualify as "agricultural primary commodities" under section 80HHC(2)(b)(i) of the Income-tax Act, entitling the assessee to deduction under section 80HHC. The court ruled in favor of the assessee, rejecting the Revenue's arguments and emphasizing that the processed groundnuts were no longer considered primary commodities. The decision was supported by expert evidence and market recognition, leading to the dismissal of the Revenue's contentions. The High Court's previous stance in a related case further reinforced the Tribunal's judgment. en-us Tue, 23 Aug 2005 00:00:00 +0530 Mon, 22 Jun 2009 12:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9338 The Tribunal upheld that HPS groundnuts exported by the assessee did not qualify as "agricultural primary commodities" under section 80HHC(2)(b)(i) of the Income-tax Act, entitling the assessee to deduction under section 80HHC. The court ruled in favor of the assessee, rejecting the Revenue's arguments and emphasizing that the processed groundnuts were no longer considered primary commodities. The decision was supported by expert evidence and market recognition, leading to the dismissal of the Revenue's contentions. The High Court's previous stance in a related case further reinforced the Tribunal's judgment. Case-Laws Income Tax Tue, 23 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9338