https://www.taxtmi.com/caselaws?id=376120 The High Court clarified that the Assessee is entitled to a deduction under Section 80HHC on export profits, despite the export turnover exceeding a certain threshold. The Court ruled in favor of the Assessee, allowing deductions based on the Supreme Court's judgment in the Topman Exports case. The Assessee can consider only the net amount of the sale value of Duty Entitlements Pass Book (DEPB) after deducting the face value for computing benefits under Section 80HHC, rather than the entire value of DEPB being considered for income tax purposes. en-us Fri, 15 Feb 2019 00:00:00 +0530 Thu, 18 Apr 2019 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376120 The High Court clarified that the Assessee is entitled to a deduction under Section 80HHC on export profits, despite the export turnover exceeding a certain threshold. The Court ruled in favor of the Assessee, allowing deductions based on the Supreme Court's judgment in the Topman Exports case. The Assessee can consider only the net amount of the sale value of Duty Entitlements Pass Book (DEPB) after deducting the face value for computing benefits under Section 80HHC, rather than the entire value of DEPB being considered for income tax purposes. Case-Laws Income Tax Fri, 15 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376120