https://www.taxtmi.com/caselaws?id=418782 The High Court ruled that income earned from leasing plant and machinery is not eligible for deduction under Section 80HHC of the Income Tax Act. The court held that the income from leasing out plant and machinery falls under items specified in Explanation (baa) of Section 80HHC and must be deducted accordingly. The judgment relied on legal precedents to establish that such income, separate from exports, does not qualify for the deduction. The appeals were dismissed based on these interpretations and legal principles. en-us Wed, 04 Aug 2021 00:00:00 +0530 Wed, 23 Feb 2022 10:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418782 The High Court ruled that income earned from leasing plant and machinery is not eligible for deduction under Section 80HHC of the Income Tax Act. The court held that the income from leasing out plant and machinery falls under items specified in Explanation (baa) of Section 80HHC and must be deducted accordingly. The judgment relied on legal precedents to establish that such income, separate from exports, does not qualify for the deduction. The appeals were dismissed based on these interpretations and legal principles. Case-Laws Income Tax Wed, 04 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418782