Tribunal held that the Assessee filed return of income u/s 158BC and assessment was completed against him in his proprietorship concern. Exports were made, export proceeds were received through Banking channel and audit report was also filed in name of proprietorship concern before its incorporation. Entitle to deduction .(BP.1-4-1989 to 14-07-1999)
Arun Malhotra. v. AO ( 2018) 196 TTJ 719 /(2019) 173 DTR 276 (Delhi)(Trib)
S.80HHC:Export business- Audit report was filed in the name of proprietorship concern – Disallowance of claim is held to be not valid . [ S.158BC ]