https://www.taxtmi.com/caselaws?id=77060 HC held that gains arising from foreign exchange fluctuation relating to export proceeds qualify for exemption u/s 10A. It observed that the assessee, being an export unit, earns such gains solely because of its export activities and does not control the exchange rate. Since the foreign exchange fluctuation is directly and inextricably linked to export sales, the resultant higher rupee realization is income derived from the export undertaking. Accordingly, HC ruled that such fluctuation gains must be included in the profits of the eligible unit for computing deduction u/s 10A and allowed the assessee's claim. en-us Tue, 13 Jul 2010 00:00:00 +0530 Wed, 19 Nov 2025 12:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77060 HC held that gains arising from foreign exchange fluctuation relating to export proceeds qualify for exemption u/s 10A. It observed that the assessee, being an export unit, earns such gains solely because of its export activities and does not control the exchange rate. Since the foreign exchange fluctuation is directly and inextricably linked to export sales, the resultant higher rupee realization is income derived from the export undertaking. Accordingly, HC ruled that such fluctuation gains must be included in the profits of the eligible unit for computing deduction u/s 10A and allowed the assessee's claim. Case-Laws Income Tax Tue, 13 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77060