https://www.taxtmi.com/caselaws?id=209823 The Tribunal upheld the claim of depreciation on increased cost due to adverse foreign exchange rate fluctuation, disallowed a portion of sales promotion expenses but remitted the matter back for reconsideration, excluded excise duty and sales tax from turnover for section 80HHC deduction, excluded income from scrap and waste for section 80HHC calculation, classified "Capital Compensation" as revenue income, allowed exchange fluctuation loss as a deduction, directed recalculation of income for section 80HHC relief, and restored the disallowance under section 14A for fresh adjudication. The appeal outcomes were partly allowed for statistical purposes for both parties. en-us Fri, 29 Apr 2011 00:00:00 +0530 Wed, 16 May 2012 18:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209823 The Tribunal upheld the claim of depreciation on increased cost due to adverse foreign exchange rate fluctuation, disallowed a portion of sales promotion expenses but remitted the matter back for reconsideration, excluded excise duty and sales tax from turnover for section 80HHC deduction, excluded income from scrap and waste for section 80HHC calculation, classified "Capital Compensation" as revenue income, allowed exchange fluctuation loss as a deduction, directed recalculation of income for section 80HHC relief, and restored the disallowance under section 14A for fresh adjudication. The appeal outcomes were partly allowed for statistical purposes for both parties. Case-Laws Income Tax Fri, 29 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209823