https://www.taxtmi.com/caselaws?id=11353 The court ruled in favor of the assessee in a case involving the interpretation of deduction under section 80HHC of the Income-tax Act. It held that the assessee was entitled to the deduction under section 80HHC despite a loss from export business, emphasizing that actual profit from export business is not a prerequisite for claiming the deduction. The court clarified that the deduction should be calculated as per the specific formula provided in the Act, and section 80AB does not apply to cases covered by section 80HHC. The judgment favored the assessee and directed the Tribunal to proceed accordingly. en-us Wed, 12 Mar 2003 00:00:00 +0530 Fri, 07 Aug 2009 09:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11353 The court ruled in favor of the assessee in a case involving the interpretation of deduction under section 80HHC of the Income-tax Act. It held that the assessee was entitled to the deduction under section 80HHC despite a loss from export business, emphasizing that actual profit from export business is not a prerequisite for claiming the deduction. The court clarified that the deduction should be calculated as per the specific formula provided in the Act, and section 80AB does not apply to cases covered by section 80HHC. The judgment favored the assessee and directed the Tribunal to proceed accordingly. Case-Laws Income Tax Wed, 12 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11353