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2011 (8) TMI 782 - KARNATAKA HIGH COURT
Interpretation of Total Turnover & Export Turnover under 10A - Held That:- ITO v. Sak Soft Ltd.(2009 -TMI - 70681 - ITAT MADRAS-D), There should be uniformity in the ingredients of both the numerator and the denominator of the formula, Section 10-A is a beneficial section. It is intended to provide incentives to promote exports. If the export turnover in the numerator is to be arrived at after excluding certain expenses, the same should also be excluded in computing the export turnover as a component of total turnover in the denominator. The reason being the total turnover includes export turnover. The components of the export turnover in the numerator and the denominator cannot be different. Formula will be
Profits of the business of the undertaking × Export turn over /
(Export turnover + domestic turn over)
Total Turn Over
