2003 (1) TMI 694 - HC - Income Tax

Summary

The Rajasthan High Court, in a judgment on a reference under section 256(2) of the Income-tax Act, 1961, ruled that sales made to foreign visitors at the assessee's counter in India can be treated as export sales for the purpose of allowing deduction under section 80HHC. The decision is based on a previous ruling by the Apex Court in the case of CIT v. Silver & Arts Palace. The Court answered the reference in favor of the assessee and against the revenue.