Hero Exports vs. CIT (Supreme Court)

Though section 80HHC does not provide so, an assessee is entitled, in computing the indirect cost of goods exported, to claim deduction at 10% as indirect expenses incurred for earning export incentives, misc income and brokerage etc. The deduction is allowed on estimate basis and as per the underlying principles of apportionment.

Note: The judgement of the P&H High Court in CIT vs. Hero Exports 292 ITR 571 has been reversed.

More Under Income Tax

Posted Under

Category : Income Tax (28373)
Type : Articles (18291)
Tags : income (106) supreme court judgements (1267)

Leave a Reply

Your email address will not be published. Required fields are marked *