https://www.taxtmi.com/caselaws?id=214670 The ITAT clarified that communication and insurance expenses are deductible under section 10A of the Income-tax Act, 1961. It held that the amount reduced from export turnover should also be deducted from total turnover for computing the deduction. The decision, based on precedents like HCL Technologies vs. ACIT and ITO vs. Sak Soft Ltd., provided clear guidelines for interpreting relevant provisions and directed the AO to adjust both turnovers accordingly. As a result, the appeal was allowed, and the AO was instructed to recalculate the deduction u/s 10A in line with the ITAT's ruling. en-us Thu, 28 Jun 2012 00:00:00 +0530 Tue, 10 Jul 2012 13:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214670 The ITAT clarified that communication and insurance expenses are deductible under section 10A of the Income-tax Act, 1961. It held that the amount reduced from export turnover should also be deducted from total turnover for computing the deduction. The decision, based on precedents like HCL Technologies vs. ACIT and ITO vs. Sak Soft Ltd., provided clear guidelines for interpreting relevant provisions and directed the AO to adjust both turnovers accordingly. As a result, the appeal was allowed, and the AO was instructed to recalculate the deduction u/s 10A in line with the ITAT's ruling. Case-Laws Income Tax Thu, 28 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214670