Supreme Court of India
Jeyar Consultant & Investment Pvt. Ltd. v. Commissioner of Income Tax, Madras
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1 Supreme Court bench has cited this judgment.
What the Court ordered
We are of the opinion that the view taken by the High Court is correct on the facts of this case.
Judgment, page 21
From the headnote
Income Tax Act, 1961- s.BOHHC (1) and (3) (b) - Deduction in respect of profits from export business - c Computation of-Assessee having turnover and income from business in India as well as from export business - Denial of deduction by the Revenue and confirmed by courts below on the ground that assessee having not earned profit from the export, deduction would be nil- On appeal, held: In order to provide deduction, the pre-requisite is to ascertain that there are profits from the export business - If there are losses in the export business, but profits in domestic business is more than the
Authorities it was built on
Where later benches applied it
Of those, 1 distinguished
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