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2013 (1) TMI 40 - MADRAS HIGH COURTExemption u/s 10B - Tax holiday in respect of profits and gains - 100% E.O.U – Calculation of turnover - Whether job work chargers are included in total turnover to calculate profit for the purpose of giving exemption u/s 10B - Assessee is engage in business of purchase of textile material, stitching and exporting garments - Export turnover in respect of articles or things in proportion to total turnover – Held that:- The Section 10B defines the "export turnover". The total turnover carried on by the assessee need not necessarily be confined to export sales or local sales, but would also include the job work done by the assessee. Therefore, sub contract receipts and stitching charges as amounting to local sales for the purpose of granting 100% exemption to the assessee. In favour of revenue
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