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2014 (1) TMI 245 - HC - Income TaxWhether income on account of foreign exchange fluctuation is income “derived from exports” u/s 10A - Held that:- As per section 10A - The income which is eligible for deduction must be income derived by an undertaking from the exports of articles or things or computer software - Benefit/reduction of liability on account of foreign exchange fluctuation on borrowed funds/loans is not income “derived” from exports of articles or things or computer software - Section 10A (4), is not applicable to the facts of the present case - The said sub-section is applicable when an assessee has domestic turnover/non-eligible turnover and also eligible export turnover - The entire turnover of the appellant-assessee is eligible for deduction under Section 10A - Decided in favour of assessee.
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