No Section 80O deduction for income received from foreign enterprise for rendering services in India

Ramnath & Co. Vs CIT (Supreme Court) Conclusion: Service charges received by assessees from the foreign enterprises did not qualify for deduction in view of clause (iii) of the Explanation to Section 80O as the services rendered by respective assessees were the ‘services rendered in India’ and not the ‘services rendered from India’ and merely having a contract with a foreign enterprise and mere earning foreign exchange did not ipso facto lead to the application of s. 80O of the Act. Held: Assessee who had been engaged in providing services to certain foreign buyers of frozen seafoo...