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2003 (3) TMI 23 - HC - Income Tax1. Whether, while computing the relief under section 80HHC of the Income-tax Act, the processing charges could be excluded from the profits of the business as also from the turnover of the business? – HELD, yes - 2. Whether, in view of Explanation (ba) to section 80HHC and clauses (iiia), (iiib) and (iiic) of section 28, will not turnover take into account all other receipts other than the excluded items of receipts? – HELD, yes - 3. Whether, the negative profit could be set off against the aggregate of the export profits on manufactured goods, incentives and sales to export house? – HELD, no
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