Supreme Court · 2005 INSC 609 · Decided 8 December 2005
Income Tax Officer, Bangalore v. M/S. Induflex Products (P) LTD.
- Court
- Supreme Court of India
- Citation
- 2005 INSC 609 · [2005] SUPP. 5 S.C.R. 693
- Case number
- CIVIL APPEAL No. 7307/2005
- Decided
- 8 December 2005
- Bench
- S.B. SINHA, R.V. RAVEENDRAN (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- IPC; Income Tax Act Section 80HH
Headnote
B Income Tax Act, 1961-Section 80HHC-Export business-Declaration by assessee incurring loss in the export of trading goods-Claiming benefit under the provision-Benefit allowed by Assessing Officer but denied by the C Commissioner-Tribunal as well as High Court allowed the benefit-In appeal, held: is not available in the event loss is incurred-Since it has not been found by High ·Court whether the assessee had shown any positive profit, matter remitted to High Court to consider this aspect. Respondent-assessee was engaged in the business of export. It declared that its
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