Section 80HHC - Page 3

Royalty income excludible from business profits for calculation of section 80HHC deduction

Fenner (India) Limited Vs ACIT (Madras High Court)

Fenner (India) Limited Vs ACIT (Madras High Court) High Court court is of the view that the Tribunal has rightly directed the assessing officer to exclude the royalty income from the business profits for the purpose of calculation of deduction under section 80HHC of the Act, which warrants no interference. FULL TEXT OF THE JUDGMENT/ORDER ...

ITAT allows Deduction u/s 80HH, 80I & 80IA on Processed Natural Gas Supply

Gail (India) Ltd. Vs DCIT-LTU (ITAT Delhi)

The issue under consideration is whether the deduction claimed u/s 80HH, 80I and 80IA for production, processing, transmission and distribution of various gases is justified in law?...

No Section 234B Interest for Advance Tax Shortfall due to Retrospective Amendment

DCIT Vs Reliance Industries Ltd. (ITAT Mumbai)

Whether the interest u/s 234B for less payment of advance tax will be levied on account of additions made to total income, consequent to retrospective amendment?...

Section 80HHC Exchange Rate Fluctuations is Export Turnover 

J.P. Khaitan Vs Mr. Debasish Chowdhury (Calcutta High Court)

The issue under consideration is whether extra realization made in rupees for export sale proceeds in foreign exchange due to adverse exchange rate of rupee would be part of the export turnover in the year of receipt and qualify it for deduction u/s Section 80-HHC ?...

Change in Inventory Valuation Method Allowed if Based on AS 2

ACIT  Vs Thiagarajar Mills Ltd. (ITAT Chennai)

The issue under consideration is whether the change in method of valuation of inventory is allowed if it is based on AS 2 as prescribed by ICAI?...

Order contrary to subsequent SC judgement can be said to suffer from mistake apparent from record

Anandkumar Jain Vs ITO (ITAT Mumbai)

Explore the ITAT Mumbai judgment in Anandkumar Jain vs ITO, highlighting rectification under Section 154 for deduction under Section 80HHC based on subsequent Supreme Court decisions....

Deduction u/s 80IA can be claimed without excluding Deduction u/s 80HHC

M/s. Indian Gum Industries Ltd. Vs  JCIT (Bombay High Court)

Parliament did not seek to disturb and / or affect cases where deduction is taken twice over i.e. under Section 80IA and 80HHC of the Act on the same profit, provided it was less than the gross total income as defined in Section 80IB(5) of the Act....

Deduction U/s. 80HHC not available on Interest, rent and miscellaneous income

M/s. Ashok Leyland Ltd Vs The Deputy Commissioner of Income Tax (Madras High Court)

A bare reading of cl. (baa) (1) indicates that receipts by way of brokerage, commission, interest, rent, charges etc., formed part of gross total income being business profits. But, for the purposes of working out the formula and in order to avoid distortion of arriving export profits cl. (baa) stood inserted to say that although incentiv...

Deduction U/s 80HHC on Duty Draw Back & DEPB to supporting manufacturer; SC refers to larger bench

Commissioner of Income Tax Vs M/s Carpet India (Supreme Court of India)

Whether in the light of peculiar facts and circumstances of the instant case, supporting manufacturer who receives export incentives in the form of duty draw back (DDB), Duty Entitlement Pass Book (DEPB) etc. is entitled for deduction under Section 80HHC of the Income Tax Act, 1961?...

Definition of total turnover given U/s. 80HHC / 80HHE cannot be adopted for Section 10A

CIT vs. HCL Technologies Ltd. (Supreme Court)

The definition of total turnover given under Sections 80HHC and 80HHE cannot be adopted for the purpose of Section 10A: HCL Technologies case...

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