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2014 (7) TMI 710 - AT - Income TaxRe-computation of deduction u/s 10A – Exclusion of expenses incurred in foreign exchange from export turnover and total turnover – Held that:- AO was of the view that the assessee had incurred certain expenses in foreign currency and hence excluded the same from export turnover alone - The decision in Income-Tax Officer. Versus Sak Soft Limited [2009 (3) TMI 243 - ITAT MADRAS-D] followed - whatever is to be excluded from export turnover should also be excluded from total turnover for the purpose of sections 10A and 10B of the Act – CIT(A) has rightly directed the AO to reduce the expenditure incurred in foreign exchange from total turnover as well for the purpose of calculation of deduction u/s. 10A of the Act – the order of the CIT(A) is upheld – Decided against Revenue.
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