https://www.taxtmi.com/caselaws?id=234933 The Court upheld the Tribunal's decision to allow the disallowance of exchange rate difference for export turnover under section 155(13) of the Income Tax Act based on mutual consent. It also supported the Tribunal's ruling on the addition of estimated cost of goods, stating that direct costs related to purchases should be bifurcated on a pro-rata basis for export and domestic sales. The Court found no reason to interfere with the Tribunal's decision on the eligible deduction under section 80HHC for the disclaimer amount and the allowance of freight expenses beyond the custom point, as they were in accordance with the law and factual circumstances. en-us Mon, 17 Jun 2013 00:00:00 +0530 Thu, 04 Jul 2013 08:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234933 The Court upheld the Tribunal's decision to allow the disallowance of exchange rate difference for export turnover under section 155(13) of the Income Tax Act based on mutual consent. It also supported the Tribunal's ruling on the addition of estimated cost of goods, stating that direct costs related to purchases should be bifurcated on a pro-rata basis for export and domestic sales. The Court found no reason to interfere with the Tribunal's decision on the eligible deduction under section 80HHC for the disclaimer amount and the allowance of freight expenses beyond the custom point, as they were in accordance with the law and factual circumstances. Case-Laws Income Tax Mon, 17 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234933