https://www.taxtmi.com/caselaws?id=59596 Foreign currency exported and repatriated through NOSTRO accounts does not constitute "goods" for deduction under section 80HHC because the term carries its settled legal meaning, under which money is excluded. The Customs Act's broader definition cannot be imported into the Income-tax Act, and treating currency as goods would not accord with the export-incentive provision's purpose. For section 80HHD, gross sale proceeds from foreign-currency trading constitute business receipts; computation cannot be restricted to the net trading margin. Accordingly, no deduction is available under section 80HHC on currency exports, while section 80HHD must use gross sale proceeds in the prescribed computation. en-us Mon, 30 Jan 2006 00:00:00 +0530 Wed, 18 Jul 2012 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59596 Foreign currency exported and repatriated through NOSTRO accounts does not constitute "goods" for deduction under section 80HHC because the term carries its settled legal meaning, under which money is excluded. The Customs Act's broader definition cannot be imported into the Income-tax Act, and treating currency as goods would not accord with the export-incentive provision's purpose. For section 80HHD, gross sale proceeds from foreign-currency trading constitute business receipts; computation cannot be restricted to the net trading margin. Accordingly, no deduction is available under section 80HHC on currency exports, while section 80HHD must use gross sale proceeds in the prescribed computation. Case-Laws Income Tax Mon, 30 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59596