https://www.taxtmi.com/caselaws?id=29474 A deduction under the relevant Finance Act was available only if the assessee first proved that export sales actually produced profits and gains; without separate export accounts or other material showing export profit, the claim failed. The computation rules could not create an entitlement in the absence of that foundational proof. On the scope of income "derived from" exports, the direct nexus test applied: cash subsidy or allowance granted because of exports could form part of export profits, but sale proceeds of transferable import entitlements and savings from imports under non-transferable licences were too remote and did not qualify. The deduction therefore turned on proof of actual export profits and proximate export-linked receipts. en-us Wed, 06 May 1981 00:00:00 +0530 Sat, 13 Mar 2010 11:40:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29474 A deduction under the relevant Finance Act was available only if the assessee first proved that export sales actually produced profits and gains; without separate export accounts or other material showing export profit, the claim failed. The computation rules could not create an entitlement in the absence of that foundational proof. On the scope of income "derived from" exports, the direct nexus test applied: cash subsidy or allowance granted because of exports could form part of export profits, but sale proceeds of transferable import entitlements and savings from imports under non-transferable licences were too remote and did not qualify. The deduction therefore turned on proof of actual export profits and proximate export-linked receipts. Case-Laws Income Tax Wed, 06 May 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29474