2012 (7) TMI 207

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..... t - Held that:- Expenditure both direct and indirect are incurred for export of the commodity and nothing of it is attributable to the receipt of amount through banking channels. Petition of assessee dismissed. - WA.No. 1709 of 2008 - - - Dated:- 30-5-2012 - MR.JUSTICE C.N.RAMACHANDRAN NAIR, MR.JUSTICE C.K.ABDUL REHIM, JJ. For Appellant:- SRI.S.ARUN RAJ For respondent:- SRI.P.K.R.MEN .....

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..... es and on going through the judgment and impugned orders, we do not find any justification for interference because while making claim on deduction of export profit under Section 80HHC, the assessee committed a mistake by reckoning export turnover without excluding so much of the turnover that was not received in convertible foreign exchange within six months from the end of the financial year. Th .....

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..... to the extent of the amount not received in convertible foreign exchange within six months from end of the financial year is the statutory provision contained under Section 80HHC(2)(a) of the Act. Expenditure both direct and indirect are incurred for export of the commodity and nothing of it is attributable to the receipt of amount through banking channels. Therefore there is no ground for allowi .....

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