Supreme Court of India
Income Tax Officer, Bangalore v. M/s. Induflex Products (p) Ltd.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
1 Supreme Court bench has cited this judgment.
From the headnote
Income Tax Act, 1961-Section 80HHC-Export business-Declaration by assessee incurring loss in the export of trading goods-Claiming benefit under the provision-Benefit allowed by Assessing Officer but denied by the Commissioner-Tribunal as well as High Court allowed the benefit-In appeal, held: In order to avail benefit u/s 80 HHC profit must be shown to be positivt; profit-Benefit is not available in the event loss is incurred-Since it has not been found by High ·Court whether the assessee had shown any positive profit, matter remitted to High Court to consider this aspect.
Where later benches applied it
Of those, 1 mentioned
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