"vegetable oils and vanaspati"

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....me of assessees. If the export profits are set-off against any losses in the process of computing the total income, no tax concession will be available. Under the Finance Act, 1963 and subsequent Finance Acts upto 1967, a further concession of deduction of tax on 2 per cent of the sale proceeds from export of specified commodities was allowed from the total tax payable by assessees. During test-ch....

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....industry is one of those industries specifically excluded from those entitled to the concession for exports made out of India. An assessee engaged in the extraction of vegetable oils from oil cakes was granted rebate at the prescribed rate on the sale proceeds relating to export of de-oiled cake on the incorrect assumption that the said exclusion applied only to the articles "vegetable oils and va....