https://www.taxtmi.com/caselaws?id=69454 The Tribunal partly allowed the appeal, overturning the CIT(A)'s decisions on two key issues: the inclusion of foreign exchange gains in total turnover for Section 10A deductions and the exclusion of brought forward losses before granting the deduction. It upheld the CIT(A)'s exclusion of interest on fixed deposits from business profits, affirming it as non-eligible under Section 10A. Additionally, the Tribunal included expenses incurred outside India on salaries, traveling, and perquisites in the export turnover for Section 10A deductions, recognizing them as related to software development activities. The issue of interest under Section 234B was not specifically addressed. en-us Fri, 15 Feb 2008 00:00:00 +0530 Tue, 16 Jan 2024 11:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69454 The Tribunal partly allowed the appeal, overturning the CIT(A)'s decisions on two key issues: the inclusion of foreign exchange gains in total turnover for Section 10A deductions and the exclusion of brought forward losses before granting the deduction. It upheld the CIT(A)'s exclusion of interest on fixed deposits from business profits, affirming it as non-eligible under Section 10A. Additionally, the Tribunal included expenses incurred outside India on salaries, traveling, and perquisites in the export turnover for Section 10A deductions, recognizing them as related to software development activities. The issue of interest under Section 234B was not specifically addressed. Case-Laws Income Tax Fri, 15 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69454