2013 (9) TMI 899

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....Leave granted. Learned counsel for the parties are ad idem that in view of the decision of this Court in Topman Exports Vs. Commissioner of Income-Tax[2012] 342 ITR 49 (SC) , these Civil Appeals deserve to be allowed and the matters need to be sent back to the Assessing Officer. 2. In Topman Exports1 this Court concluded as follows :- "The aforesaid discussion would show that where an assessee....

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.... (iiid) of Section 28 to his export profits, but he gets a higher figure of profits of the business, which ultimately results in computation of a bigger export profit. The High Court, therefore, was not right in coming to the conclusion that as the assessee did have the export turnover exceeding Rs. 10 crores and as the assessee did not fulfill the conditions set out in the third proviso to Sectio....