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2014 (9) TMI 1013 - HC - Income TaxComputation of deduction u/s.10A - per diem (amount paid to employees in foreign exchange) expenditure incurred in foreign currency - whether to be deducted from the export turnover for the purpose of computing deduction u/s.10A of the Act? - Whether the Tribunal was correct in taking into consideration Explanation 2 (iv) of Section 10A of the Act which clearly contemplated that such expenditure was liable to be deducted from the export turnover for the purpose of computing deduction U/s.10A of the Act? - Held that:- This Court had an occasion to consider the said questions of law in the case of Commissioner of Income Tax And Another Vs. MICO [2015 (7) TMI 876 - KARNATAKA HIGH COURT] wherein the said substantial questions of law was answered in favour of the assessee and against the revenue.
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