JEYAR CONSULTANT & INVESTMENT PVT. LTD. vs COMMISSIONER OF INCOME TAX

Authority: Supreme Court Date: 2015-04-01 Section: 80HHC, 246, 256(2) Acts: Income Tax Act 1961 Result: Revenue Citation: (2015) 276 CTR 0225 (SC) : (2015) 117 DTR 0369 (SC) : (2015) 373 ITR 0087 (SC) : (2015) 231 TAXMAN 0 Justices: A. K. SIKRI & ROHINTON FALI NARIMAN, JJ. Appeal No: CIVIL APPEAL NO. 8912 OF 2003
Whether deduction under Section 80HHC is permissible when there is a loss from export business but overall net profit after clubbing with domestic business income --- Held No. Whether the term 'total turnover' in the Section 80HHC formula includes receipts like brokerage, commission, interest, etc. --- Held No.

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