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2014 (8) TMI 566 - HC - Income TaxDeduction u/s 80HHC - Deemed credit under CENVAT credit scheme Part of business profit or not Held that:- The Tribunal was rightly of the view that the CENVAT incentives are in the nature of export incentives and hence allowed for the purpose of calculating business income whilst calculating a deduction u/s 80HHC of the Act - under the provisions of section 80HHC, the Assessee would be entitled to a deduction to the extent of the profits referred to in sub-section (1-B) thereof derived by the Assessee from the export of such goods or merchandise - No other provision was brought to notice that would justify the disallowance of CENVAT incentive whilst computing the admissible deduction u/s 80HHC of the Act no substantial question of law arises for consideration Decided against Revenue.
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