P.R. Prabhakar vs Commissioner Of Income Tax

Whether commission income from procuring export contracts for others qualifies for deduction under Section 80HHC of the Income Tax Act, 1961, when the assessee's own export business incurred a loss --- Held Yes. Whether the amendment to Section 80HHC via Finance (No. 2) Act, 1991, which limited such commission income to 10% for deduction, applies retrospectively to the assessment year 1990-91 --- Held No, it applies prospectively from 1 April 1992.