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2013 (11) TMI 1370 - HC - Income TaxHead office expenses - Deduction u/s 80HHC - Held that:- The assessee had not maintained separate books for the export and the trading goods - Head office expenses are not attributable in entirety to exports to treat them as direct costs - Export is of trading goods and in such cases where direct and indirect cost are not identifiable as attributable to the export of such goods, the Statute prescribes that the formula be adopted as export turnover as reduced by direct and indirect costs attributable to export of such goods - Head office expenses was not attributable to the exports exclusively but only as relatable to exports - Decided against Revenue.
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