https://www.taxtmi.com/caselaws?id=274195 The High Court upheld the Tribunal's decision, confirming that the surplus amount in the freight export account and insurance export was derived from export activities and eligible for deduction under Section 10AA. The Court agreed that there was no evidence of arrangements to inflate profits, supporting the Tribunal's decision to allow the exemption under Section 10AA. Additionally, the Court upheld the Tribunal's rejection of the Revenue's contention regarding disallowance of deduction under Section 10AA for deemed profit, emphasizing the lack of evidence of arrangements aimed at producing more than normal profit. The appeals were dismissed as no substantial question of law arose. en-us Tue, 24 Oct 2017 00:00:00 +0530 Thu, 02 Aug 2018 07:44:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274195 The High Court upheld the Tribunal's decision, confirming that the surplus amount in the freight export account and insurance export was derived from export activities and eligible for deduction under Section 10AA. The Court agreed that there was no evidence of arrangements to inflate profits, supporting the Tribunal's decision to allow the exemption under Section 10AA. Additionally, the Court upheld the Tribunal's rejection of the Revenue's contention regarding disallowance of deduction under Section 10AA for deemed profit, emphasizing the lack of evidence of arrangements aimed at producing more than normal profit. The appeals were dismissed as no substantial question of law arose. Case-Laws Income Tax Tue, 24 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274195