Supreme Court of India
Commissioner of Income Tax, Karnal (haryana) v. M/s Carpet India, Panipat (haryana)
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We are of the view that these decisions require re- consideration by a larger Bench since this issue has larger implication in terms of monetary benefits for both the parties.
Judgment, page 12
From the headnote
Income Tax Act, 1961 – ss.80HHC (1A) & (3A) a/w Explanation (baa) to s.80HHC and s.28(iiia) to (iiie) – Man ner of computation of deduction under s.80HHC, in case of supporting manufacturer selling goods to an Export House – Interpret ation of – Assessee, supporting manufacturer, dealt in manuf acture of carpets which it sold to an Export House, which, in turn, directly exported the goods manufactured by the assessee – Assessee c laimed deduction of export incentives at par with the dire ct exporter u/s.80HHC since it received export incentives in the form of Duty Draw Back (DDB), Duty
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