Case Law Details
Case Name : Shah Originals Vs CIT (Supreme Court of India)
Appeal Number : Civil Appeal No. 2664 of 2011
Date of Judgement/Order : 21/11/2023
Related Assessment Year :
Courts :
Supreme Court of India
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Shah Originals Vs CIT (Supreme Court of India)
Supreme Court held that profits earned on account of foreign exchange fluctuation cannot be included/ treated as derived from the business of export income. Accordingly, deduction under section 80HHC of the Income Tax Act not available.
Facts- The assessee is a 100% Export-Oriented Unit (EOU). The assessee reflected export turnover at Rs. 8,27,15,688/-. The said turnover included an amount of Rs. 26,62,927/- being gains on ac
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