Deduction under section 80HHC of the Income-tax Act, 1961

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....le foreign exchange. The manner of computation of profit derived from such export has been provided in sub-section (3) of the said section. 2. The first proviso to section 80-HHC (3) stipulates that the profits computed under sub-section (3) of section 80-HHC shall be further increased by a proportionate amount of the sums of export benefits referred to in section 28 (iiia) (not being profits on....

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....995 as clause (iiic) of section 28 refers to Customs and Central Excise Duty Drawback Rules, 1971. 5. The matter has been examined by the Board. Rule 18 of the Customs and Central Excise Duties Drawback Rules, 1995 provides for Repeals and Savings of the Customs and Central Excise Duties Drawback Rules, 1971. 6. Section 8 of the General Clauses Act provides that where the General Clauses Act o....