https://www.taxtmi.com/caselaws?id=12419 The court upheld the provisions of section 80HHC, emphasizing the mandatory application of sub-section (3) for calculating export profits, even when separate accounts are maintained. The Tribunal's order was modified, directing a fresh assessment by the Assessing Officer using the prescribed formula. The judgment clarifies that separate grouping of export profits without following sub-section (3) is impermissible, ensuring adherence to statutory provisions for deduction of export profits under the Income-tax Act. en-us Wed, 13 Mar 2002 00:00:00 +0530 Sat, 17 Sep 2016 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12419 The court upheld the provisions of section 80HHC, emphasizing the mandatory application of sub-section (3) for calculating export profits, even when separate accounts are maintained. The Tribunal's order was modified, directing a fresh assessment by the Assessing Officer using the prescribed formula. The judgment clarifies that separate grouping of export profits without following sub-section (3) is impermissible, ensuring adherence to statutory provisions for deduction of export profits under the Income-tax Act. Case-Laws Income Tax Wed, 13 Mar 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12419