Assessee, engaged in export business claimed benefit of deduction as per computation provided in clause (baa) to Explanation to section 80HHC in respect of certain interest income.Tribunal held that since assessee failed to establish that interest earned on deposit or advance was income from export business, benefit of deduction as per computation provided in clause (baa) to Explanation to section 80HHC could not be made available to assessee On appeal, High Court upheld view taken by Tribunal. SLP of asseessee is dismissed.
Kaushal Kishore Agarwal v. ITO (2024) 297 Taxman 381/463 ITR 688 (SC) Editorial: Kaushal Kishore Agarwal v. ITO (2024) 159 taxmann.com 248 /463 ITR 683 (Raj)(HC)
S. 80HHC : Export business-Interest income-Failure to establish nexus with export business-Order of Tribunal denying the exemption is affirmed by High Court-SLP of assessee is dismissed. [Art. 136]