https://www.taxtmi.com/caselaws?id=214190 The High Court upheld the Tribunal's decisions in a case concerning depreciation calculation based on subsidies received and the determination of export profit eligible for deduction under Section 10B of the Income Tax Act. The Court ruled in favor of the respondent assessee, dismissing the Revenue's appeal on both issues. The Court emphasized the prospective nature of the relevant legislative amendments and the requirement for export turnover calculations to reflect the actual amount received in convertible foreign exchange, excluding certain components. en-us Tue, 05 Jul 2011 00:00:00 +0530 Fri, 22 Jun 2012 10:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214190 The High Court upheld the Tribunal's decisions in a case concerning depreciation calculation based on subsidies received and the determination of export profit eligible for deduction under Section 10B of the Income Tax Act. The Court ruled in favor of the respondent assessee, dismissing the Revenue's appeal on both issues. The Court emphasized the prospective nature of the relevant legislative amendments and the requirement for export turnover calculations to reflect the actual amount received in convertible foreign exchange, excluding certain components. Case-Laws Income Tax Tue, 05 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214190