1996 (5) TMI 61

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....ty of section 80HHC, Explanation (aa), of the Income-tax Act, 1961. We have heard Sri V. B. Upadhyay, learned counsel for the petitioner, and Sri Rajesh Kumar Agrawal, learned counsel for the respondents. Section 80HHC was made to give certain benefits to exporters. However, Explanation (aa) was inserted by the Finance (No. 2) Act of 1991, with effect from April 1, 1986. An exception was carved....

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....n export out of India if two conditions are satisfied : (i) it should be a transaction by way of sale otherwise in a shop, emporium or an establishment situate in India ; (ii) it should not involve clearance in the customs as defined in the Customs Act. Both these conditions must be satisfied if the transaction is to be held to be not an export out of India. Hence, if either of these two condition....