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2014 (3) TMI 256 - AT - Income TaxDeduction u/s 10A of the Act – Exclusion from export turnover – Business of software development services - As decided in CIT vs. Gem Plus Jewellery India Ltd. [2010 (6) TMI 65 - BOMBAY HIGH COURT] whatever is the amount arrived at as export turnover for numerator, the same should be included in the total turnover which is denominator in the calculation for deduction u/s 10A of the Act. Exclusion of communication charges and insurance charges – Held that:- For the purpose of inclusion in the profit the receipt should have an element of turnover and profit - whatever is not included in the export turnover cannot form part of total turnover also - The expenditure which was excluded by the Assessing Officer while computing the "export turnover" does not have the element of turnover – thus, it cannot be included in the total turnover also – there is no justification for inclusion of the expenditure which is excluded from export turnover, in the total turnover - Export proceeds not received within six months are also to be excluded from the total turnover on the same principle - Decided in favour of Assessee.
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