S. 80HHC Calculation – Unrealised Export Sales will form part of Total Turnover

HIGH COURT OF MADRAS Galaxy Granites (P.) Ltd. versus Commissioner of Income-tax, Chennai TAX CASE (APPEAL) NO. 492 OF 2006 JULY 23, 2012 JUDGMENT Mrs. Chitra Venkataraman, J. The assessee is on appeal as against the order of the Tribunal relating to the assessment year 1996-97, raising the following substantial question of law:- “Whether the Appellate Tribunal is right in law in holding that unrealised export turnover should be included in the “Total Turnover” while it is not treated as “Export Turnover” for purposes of computing the allowable de...