https://www.taxtmi.com/caselaws?id=13505 Section 80HHC distinguishes direct cost from indirect cost in computing deduction for trading exports: direct cost is limited to costs directly attributable to the exported goods, while indirect cost covers other allocated business costs. Export incentives arise after export and are not costs attributable to the trading goods exported, so they cannot be treated as indirect cost for export-profit computation. Clause (baa) in the Explanation, which requires reduction of 90% of specified receipts, does not justify reducing 10% of export incentive income as indirect cost. en-us Fri, 22 Dec 2006 00:00:00 +0530 Fri, 29 May 2009 12:26:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13505 Section 80HHC distinguishes direct cost from indirect cost in computing deduction for trading exports: direct cost is limited to costs directly attributable to the exported goods, while indirect cost covers other allocated business costs. Export incentives arise after export and are not costs attributable to the trading goods exported, so they cannot be treated as indirect cost for export-profit computation. Clause (baa) in the Explanation, which requires reduction of 90% of specified receipts, does not justify reducing 10% of export incentive income as indirect cost. Case-Laws Income Tax Fri, 22 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13505