https://www.taxtmi.com/caselaws?id=33653 The High Court held that the assessee was not entitled to claim a deduction on incremental turnover under section 80HHC of the Income-tax Act, 1961 for the assessment year 1983-84. The Court ruled that the assessee, a private limited company, did not meet the conditions for claiming the deduction as they had started exporting goods directly in the current year without exporting goods in the immediately preceding year. The Court emphasized that the assessee was only entitled to a 1% concession for that year and not an additional 5% deduction on incremental turnover. The decision favored the Revenue and went against the assessee. en-us Wed, 25 Jul 2007 00:00:00 +0530 Tue, 02 Jun 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33653 The High Court held that the assessee was not entitled to claim a deduction on incremental turnover under section 80HHC of the Income-tax Act, 1961 for the assessment year 1983-84. The Court ruled that the assessee, a private limited company, did not meet the conditions for claiming the deduction as they had started exporting goods directly in the current year without exporting goods in the immediately preceding year. The Court emphasized that the assessee was only entitled to a 1% concession for that year and not an additional 5% deduction on incremental turnover. The decision favored the Revenue and went against the assessee. Case-Laws Income Tax Wed, 25 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33653