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Case Law Details

Case Name : Sesa Goa Ltd. Vs CIT, (Goa High Court)
Appeal Number : Income Tax Appeal no 53/2006
Date of Judgement/Order : 07/05/2015
Related Assessment Year :
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Brief of the case

In the case of  Sesa Goa Ltd. vs. CIT, High Court has held that that independent income having no nexus with exports would be covered by the words other similar receipts in clause (baa) of the Explanation to Section 80HHC of the Act.

Facts of the case

1. The assessee carries on business of mining and export of iron ore. This ore is not only mined by the appellant from its own mines but also from mines belonging to others. The assessee receives extraction charges from mine owners in respect of the ores mined from mines belonging to others. These ores are thereafter purchased by the assessee from the mine owners in excess of the consideration received for extraction and exported. The assessee for carrying out its mining activities uses equipments/machines, services of engineers, barges for transport and repair facility. These when not required by the assessee are given to/used by others for consideration. Besides exports of ores the appellant also sells pig iron, vessels, engineering products, and material and coke breeze in local market.

2. For the Assessment year 1996-1997, the assessee had in its return of income declared a total income of Rs.9.73 crores. In its return of Income, the assessee had inter alia claimed the benefit of Rs.9.42 crores under Section 80 HHC of the Act.

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July 2024