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2017 (2) TMI 1186 - ITAT AHMEDABADComputing exemption profit u/s. 10B - Held that:- On identical issue hon’ble high court of Karnataka in the CIT vs. Tata Elexi Ltd [2011 (8) TMI 782 - KARNATAKA HIGH COURT] held that while computing deduction u/s. 10A if export turnover numerator is to be arrived at after excluding certain expenses, such expenses are also to be excluded in computing export turnover as a component of total turnover in denominator. The components of the export turnover in the numerator and the denominator cannot be different. After considering the legal findings supra, we find that on principle of parity if export freight excluded from export turn-over and the same also ought to be excluded from total turnover while computing exempted profit u/s. 10B of the act therefore, we allow the appeal of the assessee.
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