https://www.taxtmi.com/caselaws?id=391119 The Appellant, engaged in diamond exports, claimed deductions under Section 80 HHC for labor charges and commission. The Income Tax Appellate Tribunal denied the deduction, citing precedents that emphasized the need for a direct nexus between profits and export activities. The Tribunal's decision was influenced by the interpretation of Section 80HHC, excluding certain receipts like service charges from business profits. The Supreme Court's clarification on the retroactive effect of the 1991 amendment to Section 80HHC further supported the Tribunal's decision, resulting in the Appeal being disposed of against the Revenue. en-us Wed, 08 Jan 2020 00:00:00 +0530 Mon, 20 Jan 2020 09:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391119 The Appellant, engaged in diamond exports, claimed deductions under Section 80 HHC for labor charges and commission. The Income Tax Appellate Tribunal denied the deduction, citing precedents that emphasized the need for a direct nexus between profits and export activities. The Tribunal's decision was influenced by the interpretation of Section 80HHC, excluding certain receipts like service charges from business profits. The Supreme Court's clarification on the retroactive effect of the 1991 amendment to Section 80HHC further supported the Tribunal's decision, resulting in the Appeal being disposed of against the Revenue. Case-Laws Income Tax Wed, 08 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391119