2016 (5) TMI 209 - SCH - Income Tax

Disallowance under the Explanation under sub-section (4A) of section 80HHC - amount received from the Export House in brokerage or commission or charges or any other receipt - Held that - In view of the decision rendered by this court in CIT v. Baby Marine Exports 2007 (3) TMI 206 - SUPREME Court we allow this appeal and set aside the order of the High Court 2006 (1) TMI 116 - MADRAS High Court and held that as the assessee is exporting directly to the buyers and also through export houses submission of revenue that the premium earned by the respondent assessee is totally unrelated to export is fallacious - Decided against revenue

Summary

The Supreme Court of India allowed the appeal and set aside the High Court's order based on previous decisions in CIT v. Baby Marine Exports and CIT v. Dalbir Singh. All consequential reliefs were granted to the appellant. (2016 (5) TMI 209 - SC)