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The Tax PublishersITA Nos. 44 & 45 of 2016
2019 TaxPub(DT) 2482 (Karn-HC) : (2019) 412 ITR 0468INCOME TAX ACT, 1961
Section 10A
What is excluded from export turnover must also be excluded from total turnover, since one of the components of total turnover is export turnover.
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Deduction under section 10A - Computation - Total turnover - Treatment of amount excluded from export turnover
Assessee claimed deduction under section 10A. AO re-computed amount deductible by excluding expenses incurred in foreign currency from export turnover, however, without reducing the same from total turnover. Held: What is excluded from export turnover must also be excluded from total turnover, since one of the components of total turnover is export turnover. AO was directed accordingly.
Relied:CIT v. Tata Elxsi Ltd. (2012) 204 Taxman 321 (Karn) : (2012) 349 ITR 98 (Karn) : 2011 TaxPub(DT) 1960 (Karn-HC) and CIT v. HCL Technologies Ltd. (2018) 404 ITR 719 (SC) : 2018 TaxPub(DT) 2138 (SC).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2005-06
INCOME TAX ACT, 1961
Section 10A
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