Supreme Court Clarifies Deduction Under Section 80HHC of Income Tax Act: Shah Originals vs. Commissioner of Income Tax (2023) INSC 1014 Date of the Judgment: November 21, 2023 Citation: 2023 INSC 1014 Judges: B.V. Nagarathna, J. and S.V.N. Bhatti, J. Can gains from foreign exchange fluctuations in an Exchange Earners Foreign Currency (EEFC) account be […]
Supreme Court refers Section 80HHC deduction for supporting manufacturers to larger bench: Commissioner of Income Tax vs. M/s Carpet India (2018) LEGAL ISSUE: Whether supporting manufacturers are entitled to the same tax deductions as direct exporters under Section 80HHC of the Income Tax Act, 1961, particularly concerning export incentives like duty drawbacks. CASE TYPE: Income
Introduction Date of the Judgment: September 03, 2008 Citation: Civil Appeal No. 5475 of 2008 (Arising out of SLP(C) No. 7323 of 2007) Judges: Justice S.H. Kapadia and Justice B. Sudershan Reddy How should deductions be calculated for export businesses under Section 80HHC of the Income Tax Act when a company has both export and
