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2012 (11) TMI 187 - PUNJAB AND HARYANA, HIGH COURTWhether assessee would be entitled to any deduction u/s 80HHC on the mercantile basis in the year of export or in the current assessment year in respect of cash incentive and IPRS received by the assessee, even if assessee follow cash/receipt system – Held that:- Following the decision in case of B. Desraj (2008 (5) TMI 285) - SUPREME COURT) that assessee was maintaining his accounts under the cash system and had exported goods in the accounting year relevant to assessment year 1988-89 and 1989-90 and had received cash compensatory allowance and duty draw back therefor in the assessment year 1992-93. Though, the assessee had not done any export business during the assessment year 1992- 93, yet the assessee was held entitled to deduction u/s 80HHCin relation to those items during the assessment year 1992-93. Therefore the assessee is entitled to the deduction u/s 80HHC by taking the export turnover and the total turnover of the year in relation to which the export incentive has been received. Appeal decides in favour of assessee
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