2013 (11) TMI 1621 - SCH - Income Tax

Deduction u/s 80HHC - Held that - Learned counsel for the petitioner(s) states that the issues raised in these petitions for our consideration are identical with the issues raised and considered by this Court in the case of Madhur Industries Ltd. vs. Commissioner of Income Tax-II 2013 (7) TMI 233 - SUPREME COURT wherein held where the export turnover of an assessee exceeds ₹ 10 crores, he does not get the benefit of addition of ninety per cent of export incentive under clause (iiid) of Section 28 to his export profits, but he gets a higher figure of profits of the business, which ultimately results in computation of a bigger export profit

Summary

The Supreme Court disposed of special leave petitions by following observations made in a previous decision in the case of Madhur Industries Ltd. vs. Commissioner of Income Tax-II.