Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2008 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2008 (2) TMI 407 - HC - Income TaxExport – Negative export profits - Undoubtedly, section 80HHC has been incorporated with a view to provide incentive to export houses. Even though a liberal interpretation has to be given to such a provision, interpretation has to be as per the wording of the section. If the wording of the section is clear, then the benefits which are not available under the section can not be conferred by ignoring or misinterpreting words in the section - negative export profits can not be ignored when aggregating the total turnover including other export by not taking into consideration the specific definition adduced in section 80HHC read with section 80AB of the Act for the purpose of computing deduction under section 80HHC of the Act – decided in favor of revenue – tribunal order is not correct.
|