https://www.taxtmi.com/caselaws?id=362651 The High Court held that the Respondent-assessee is entitled to deduction under Section 10B of the Income Tax Act for 'Deemed Exports' made through a third party. The Court emphasized that 'Deemed Export' through a third party qualifies for deduction under Section 10B, aligning with the purpose of encouraging exports and foreign currency earnings. The Court rejected the Revenue's argument that Section 10B only applies to direct exports by the assessee-unit, clarifying that there is no restriction on the source of export for claiming the deduction. The Court dismissed the Revenue's appeals, ruling in favor of the assessee. en-us Tue, 12 Jun 2018 00:00:00 +0530 Thu, 28 Jun 2018 14:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362651 The High Court held that the Respondent-assessee is entitled to deduction under Section 10B of the Income Tax Act for 'Deemed Exports' made through a third party. The Court emphasized that 'Deemed Export' through a third party qualifies for deduction under Section 10B, aligning with the purpose of encouraging exports and foreign currency earnings. The Court rejected the Revenue's argument that Section 10B only applies to direct exports by the assessee-unit, clarifying that there is no restriction on the source of export for claiming the deduction. The Court dismissed the Revenue's appeals, ruling in favor of the assessee. Case-Laws Income Tax Tue, 12 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362651