Meaning of tax terms
Meaning of “Income arising out of business of export
Case Name : P.R.Prabhakar Vs. CIT
Citation :[2006] 154 TAXMAN 503/284 ITR 548/204 CTR 27 (SC)
Court : Supreme Court
Section : 80HHC
Meaning : The expression ‘income arising out of business of export’ brings within its sweep not only the export of any goods or merchandise manufactured or possessed by the assessee but also of trading goods. The parliament, therefore, intended to provide incentive when a positive profit is earned by an exporter.
