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2015 (8) TMI 55 - HC - Income TaxGains out of cancellation of contracts - whether were income from export business and eligible for deduction u/s. 80HHC? - Held that:- Tribunal right in holding that the Gains out of cancellation of contracts were income from export business and eligible for deduction u/s. 80HHC. See Commissioner of Incometax-I vs. Friends and Friends Shipping Pvt. Ltd. [2013 (5) TMI 458 - GUJARAT HIGH COURT] and Commissioner of Income Tax V. Mitsu Limited [2014 (4) TMI 168 - GUJARAT HIGH COURT], CIT v. Badridas Gauridu (P) Ltd. [2003 (1) TMI 61 - BOMBAY High Court] and CIT v. Soorajmull Nagarmull (1980 (9) TMI 69 - CALCUTTA High Court) with Commissioner of Income Tax-II vs. Panchmahal Steel Ltd. [2013 (5) TMI 686 - GUJARAT HIGH COURT] - Decided in favour of assessee.
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