“The policy behind the deductions of profits from the business of exports is to encourage and incentivise export trade. Through Section 80HHC (of the Income Tax Act), the Parliament restricted the deduction of profit from the assessee's export of goods/merchandise. The interpretation now suggested by the assessee would add one more source to the sources stated in Section 80 HHC of the Act. Such a course is impermissible,” the apex court said.
