Supreme Court · 2007 INSC 1165 · Decided 20 November 2007
M/S. Hero Exports, G.T. Road, Ludhiana v. Commissioner of Income Tax, (Central), Ludhiana
- Court
- Supreme Court of India
- Citation
- 2007 INSC 1165 · [2007] 12 S.C.R. 337
- Case number
- CIVIL APPEAL No. 5315/2007
- Decided
- 20 November 2007
- Bench
- S.H. KAPADIA, B. SUDERSHAN REDDY (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 80HH
Headnote
Income Tax Act, 1961-s.80HHC(3)(b) r/w clauses (d) and (e) of Explanation to s.80HHC(3)-Assessment Years 1994-95to1997-98- Asses see engaged in export of trading goods-Deriving income from c such export and also other income on account of export incentives etc. -Common pool of expenses with regard of 10% of other income from export incentives etc. > against indirect cost of trading goods-Entitlement for-Held: D Entitled-Guidance value of 10% of other income from export incentives etc. is fair estimate-This guidance value flowing from the scheme of s. 80HHC rlw Memorandum to Finance
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