Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2021 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (4) TMI 1134 - HC - Income TaxComputation of deduction u/s 10A - tribunal held that the travelling expenditure incurred in foreign currency is to be reduced from the total turnover also for the purpose of computation of deduction - HELD THAT:- As decided in M/S. SRA SYSTEMS LTD. [2021 (3) TMI 977 - MADRAS HIGH COURT] when the object of the formula is to arrive at the profit from export business, expenses excluded from export turnover have to be excluded from total turnover also. Otherwise any other interpretation makes the formula unworkable and absurd. Hence, we are satisfied that such deduction shall be allowed from the total turnover in same proportion as well. Decided in favour of the assessee.
|