2013 (9) TMI 899

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..... Leave granted. Learned counsel for the parties are ad idem that in view of the decision of this Court in Topman Exports Vs. Commissioner of Income-Tax[2012] 342 ITR 49 (SC) , these Civil Appeals deserve to be allowed and the matters need to be sent back to the Assessing Officer. 2. In Topman Exports1 this Court concluded as follows :- "The aforesaid discussion would show that where an assesse .....

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..... e (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. The High Court, therefore, was not right in coming to the conclusion that as the assessee did have the export turnover exceeding Rs. 10 crores and as the assessee did not fulfill the conditions set out in the third proviso to Secti .....

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..... he impugned judgment and orders of the Bombay High Court are accordingly set-aside. The appeals are allowed to the extent indicated in this judgment. The Assessing Officer is directed to compute the deduction under Section 80HHC in the case of the appellants in accordance with this judgment...." 3. For the same reasons, the impugned judgments and orders of the Gujarat High Court are set-aside and .....

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