2014 (1) TMI 1845 - SCH - Income Tax

Reopening of assessment - excessive allowance of the deduction under Section 80HHC - sale proceeds of the quota cannot be considered as export turnover but represented business income covered u/s 28(iv) and had to be reduced to the extent of 90% from the business income as per section 80HHC(baa) - Held that - SLP dismissed. HC order confirmed. 2013 (1) TMI 177 - DELHI HIGH COURT