https://www.taxtmi.com/caselaws?id=151392 A delegated export-promotion scheme could not confer a complete income-tax exemption outside the Income-tax Act, 1961, because it could not override the statute absent express overriding language; the independent exemption claim was rejected. In section 10A computation, unrealised export proceeds excluded from export turnover were nevertheless includible in total turnover, and travel, telecommunication and professional consultancy charges excluded from export turnover were also to be excluded from total turnover to preserve parity in the ratio formula. Disallowance issues relating to employee loyalty bonus contributions, club membership fees, employee marriage-related payments and resort payments were remitted for fresh adjudication on merits. en-us Tue, 13 Jul 2010 00:00:00 +0530 Wed, 05 Jun 2013 13:23:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151392 A delegated export-promotion scheme could not confer a complete income-tax exemption outside the Income-tax Act, 1961, because it could not override the statute absent express overriding language; the independent exemption claim was rejected. In section 10A computation, unrealised export proceeds excluded from export turnover were nevertheless includible in total turnover, and travel, telecommunication and professional consultancy charges excluded from export turnover were also to be excluded from total turnover to preserve parity in the ratio formula. Disallowance issues relating to employee loyalty bonus contributions, club membership fees, employee marriage-related payments and resort payments were remitted for fresh adjudication on merits. Case-Laws Income Tax Tue, 13 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151392