https://www.taxtmi.com/caselaws?id=59372 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision, confirming that the entire profit from exports, as computed under clauses (a) to (c) of section 80HHC(3), is eligible for reduction under clause (iv) of Explanation to section 115JB of the IT Act. The Tribunal determined that the computation of book profit under section 115JB should reduce the net profit shown in the P&L account by the entire profit eligible for deduction under section 80HHC, without applying the phased deduction limits of section 80HHC(1B). en-us Fri, 30 Nov 2007 00:00:00 +0530 Sat, 27 Jan 2024 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59372 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision, confirming that the entire profit from exports, as computed under clauses (a) to (c) of section 80HHC(3), is eligible for reduction under clause (iv) of Explanation to section 115JB of the IT Act. The Tribunal determined that the computation of book profit under section 115JB should reduce the net profit shown in the P&L account by the entire profit eligible for deduction under section 80HHC, without applying the phased deduction limits of section 80HHC(1B). Case-Laws Income Tax Fri, 30 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59372