MILTON LAMINATES LTD vs COMMISSIONER OF INCOME TAX-II — C.A. No. 788 - 789/2014

Case Summary: Milton Laminates Ltd v. Commissioner of Income Tax-II (CA 788-789/2014) The Supreme Court allowed Milton Laminates' appeal and set aside the High Court's judgment. Following the precedent established in Topman Exports v. CIT, the Court held that the assessee was entitled to Section 80HHC deduction on export profits despite having export turnover exceeding Rs. 10 crores, as the statutory language of Explanation (baa) to Section 80HHC clearly permitted such deduction. The Assessing Officer was directed to recompute the deduction under Section 80HHC in accordance with this judgment, with no order as to costs. This case analysis is maintained by casestatus.in based on publicly available court records.