Dear All,
I need the citation of the below case law which has been decided by the Bangalore Tribunal. I have searched for citation from Lexsite/ BCAS/ ITatonline etc. but cant trace it.
If any one of u have the citation, pls let me know.
Thnks in Advance.
Regards
Siddharth
Sales from one STP to another is not deemed export for Income Tax deductions : ITAT
1. Carry forward export loss and export profit eligible for deduction for the year are to be considered together for the purposes of ascertaining the income included in the gross total income.
In the return of income, the assessee claimed deduction u/s 80HHE before setting off of brought forward business loss and unabsorbed depreciation from the gross total income. Before the Assessing Officer it was contended that section 80HHE is the self-contained section and contains the definition of profits of the business, export turnover, total turnover etc. Section 80AB refers to the nature of income entitled for deduction u/s VIA and include in the gross total income. Section 80HHE does not refer to any income included in the gross total income.
- - - - -- - - -------- - - -- --
Sales from one STP to another is not deemed export for Income Tax deductions.
Further, from the perusal of the Exim Policy (chapter 6), it is seen that whatever benefit given should be as per the provisions of sections 10A and 10B of the Income Tax Act. Apart from the benefit conferred, nothing has been indicated in respect of any deemed export when the issue considered under the I T Act. The Exim Policy obviously does not include in respect of benefit to be given under I T Act other than one referred to under Chapter 6.12(a).
Please do the needful at the earliest.