https://www.taxtmi.com/caselaws?id=38728 The High Court of Madras ruled in favor of the assessee, a renowned exporter of tanned hides and skins, determining that their earnings from the export transactions, including a 1% discount received, constituted export profits eligible for rebate under the Finance Act. The Court emphasized the assessee's significant role in the export process, where goods were exported in the assessee's name and at their risk, despite being shipped by local dealers and involving agency agreements with foreign firms. The Court held that the earnings were indeed derived from the export of goods, dismissing the department's appeals. en-us Mon, 01 Nov 1976 00:00:00 +0530 Thu, 08 Apr 2010 16:03:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38728 The High Court of Madras ruled in favor of the assessee, a renowned exporter of tanned hides and skins, determining that their earnings from the export transactions, including a 1% discount received, constituted export profits eligible for rebate under the Finance Act. The Court emphasized the assessee's significant role in the export process, where goods were exported in the assessee's name and at their risk, despite being shipped by local dealers and involving agency agreements with foreign firms. The Court held that the earnings were indeed derived from the export of goods, dismissing the department's appeals. Case-Laws Income Tax Mon, 01 Nov 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38728