Assistant Commr.Of I.T.Indore vs M/S New Sack Pvt.Ltd

The Supreme Court addressed the interpretation of Section 80IA of the Income Tax Act, determining whether the entire eligible income of the assessee should be considered for deduction without deducting export incentives. The Court noted that this question had not been previously answered by the Income Tax Appellate Tribunal or the High Court. The appeal was disposed of with liberty granted to the appellant to raise the issue in the High Court, which may remit the case back to the Tribunal for factual findings if necessary.