https://www.taxtmi.com/caselaws?id=238666 The ITAT Hyderabad rectified its order regarding the deduction of communication and insurance charges from export turnover, and the reimbursement of expenses to Virtusa Corporation, USA. The Tribunal acknowledged oversights in adjudication and rectified the order in line with legal precedents and statutory provisions. The Tribunal directed the Assessing Officer to compute the deduction as per Supreme Court precedent, reducing expenses from both export and total turnover. Both MAs filed by the assessee and the revenue were allowed, affirming the reduction of reimbursement expenses from both turnovers for computing deduction u/s 10A. en-us Mon, 16 Sep 2013 00:00:00 +0530 Tue, 29 Oct 2013 09:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238666 The ITAT Hyderabad rectified its order regarding the deduction of communication and insurance charges from export turnover, and the reimbursement of expenses to Virtusa Corporation, USA. The Tribunal acknowledged oversights in adjudication and rectified the order in line with legal precedents and statutory provisions. The Tribunal directed the Assessing Officer to compute the deduction as per Supreme Court precedent, reducing expenses from both export and total turnover. Both MAs filed by the assessee and the revenue were allowed, affirming the reduction of reimbursement expenses from both turnovers for computing deduction u/s 10A. Case-Laws Income Tax Mon, 16 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238666