https://www.taxtmi.com/caselaws?id=19126 Export profits rebate under section 2(5)(i) of the Finance Act, 1963 was available where the assessee's total income included profits derived from export of goods, and those profits had to be computed only in the manner prescribed by the statutory rules. Rule 2 of the Income-tax (Determination of Export Profits) Rules, 1963 governed the computation, and rule 2(3) applied where export profits could not otherwise be ascertained. The taxing authority could not reject the claim by relying on isolated remarks in the directors' report or other extraneous considerations inconsistent with the prescribed computation scheme. en-us Thu, 08 Dec 1994 00:00:00 +0530 Wed, 04 Nov 2009 12:00:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19126 Export profits rebate under section 2(5)(i) of the Finance Act, 1963 was available where the assessee's total income included profits derived from export of goods, and those profits had to be computed only in the manner prescribed by the statutory rules. Rule 2 of the Income-tax (Determination of Export Profits) Rules, 1963 governed the computation, and rule 2(3) applied where export profits could not otherwise be ascertained. The taxing authority could not reject the claim by relying on isolated remarks in the directors' report or other extraneous considerations inconsistent with the prescribed computation scheme. Case-Laws Income Tax Thu, 08 Dec 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19126