https://www.taxtmi.com/caselaws?id=282025 The Tribunal upheld the exclusion of net exchange gain and miscellaneous receipts from business profits for computing deduction u/s.80 HHC. The High Court supported this decision as the amounts were unrelated to the export business. The High Court admitted the appeal on the application of a jurisdictional High Court ruling. The Tribunal's decision to treat a written-off amount on account of intercorporate deposits as a business loss was upheld. The Tribunal's allowance of agency commission paid for obtaining Government contracts as a deduction was upheld as well, as revenue did not challenge earlier rulings. en-us Fri, 01 Feb 2013 00:00:00 +0530 Thu, 18 Jul 2019 16:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282025 The Tribunal upheld the exclusion of net exchange gain and miscellaneous receipts from business profits for computing deduction u/s.80 HHC. The High Court supported this decision as the amounts were unrelated to the export business. The High Court admitted the appeal on the application of a jurisdictional High Court ruling. The Tribunal's decision to treat a written-off amount on account of intercorporate deposits as a business loss was upheld. The Tribunal's allowance of agency commission paid for obtaining Government contracts as a deduction was upheld as well, as revenue did not challenge earlier rulings. Case-Laws Income Tax Fri, 01 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282025