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TMI Blog2013 (7) TMI 271X X X X Extracts X X X X X X X X Extracts X X X X ..... e business, which ultimately results in computation of a bigger export profit - Following decision of Topman Exports Vs. Commissioner of Income-Tax [2012 (2) TMI 100 - SUPREME COURT OF INDIA] - Decided in favour of Assessee. - Civil Appeal No. 5050 of 2012, Civil Appeal No. 5051 of 2012 - - - Dated:- 1-7-2013 - R. M. Lodha And Sudhansu Jyoti Mukhopadhaya,JJ. ORDER Mr. Gourab Banerji, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion 80HHC of the Act and there is nothing in Explanation (baa) to Section 80HHC to show that this benefit of exclusion of a smaller figure from "profits of the business" will not be available to an assessee having an export turnover exceeding Rs.10 crores. In other words, where the export turnover of an assessee exceeds Rs.10 crores, he does not get the benefit of addition of ninety per cent of e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... statute that a subject will be liable to tax and will be entitled to exemption from tax according to the strict language of the taxing statute and if as per the words used in Explanation (baa) to Section 80HHC read with the words used in clauses (iiid) and (iiie) of Section 28, the assessee was entitled to a deduction under Section 80HHC on export profits, the benefit of such deduction cannot be d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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