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It is not the ‘profit from export’ but ‘profit of business’ which is to be considered in formula u/s 10B(4)
Case Law Details
- Case Name
- Riviera Home Furnishing Vs Addl. Commissioner of Income Tax (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2008-09
- Courts
- All High Courts, Delhi High Court
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Brief of the Case
In Riviera Home Furnishing vs. Addl. CIT, Hon’ble Delhi High Court while dealing with the interpretation of Section 10B(4) held that the manner of determining such eligible profits has been statutorily defined in sub-section (4) of section 10B of the Act. As per the formula the entire profits of the business are to be taken which are multiplied by the ratio of the export turnover to the total turnover of the business. Sub-section (4) does not require an assessee to establish a direct nexus with the business of the undertaking and once an income forms part of the business of...
