Profit from exchange rate fluctuation not export earnings, ineligible to benefit u/s 80 HHC
July 7, 2025
High Courts, Income Tax
Profit from exchange rate fluctuation is independent of export earnings. Fluctuations from the EEFC account does not fall within the meaning of “derived from” the export. In a recent judgment, Allahabad High Court has denied deduction u/s 80HHC following Supreme Court that the profit from exchange rate fluctuation …