https://www.taxtmi.com/caselaws?id=250740 The Court ruled in favor of the assessee in a case concerning the exclusion of foreign currency expenses for providing software development services from export turnover for deduction under Section 10B of the Act. The Court emphasized that expenses incurred in foreign exchange for technical services connected to the development or production of computer software outside India should be deducted from the export turnover. Additionally, the Court stressed the importance of consistency in treating components of export turnover in the formula for computing deductions. The Court dismissed the appeals brought by the Revenue based on the detailed analysis and rulings provided for each issue raised. en-us Fri, 01 Aug 2014 00:00:00 +0530 Fri, 01 Feb 2019 13:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250740 The Court ruled in favor of the assessee in a case concerning the exclusion of foreign currency expenses for providing software development services from export turnover for deduction under Section 10B of the Act. The Court emphasized that expenses incurred in foreign exchange for technical services connected to the development or production of computer software outside India should be deducted from the export turnover. Additionally, the Court stressed the importance of consistency in treating components of export turnover in the formula for computing deductions. The Court dismissed the appeals brought by the Revenue based on the detailed analysis and rulings provided for each issue raised. Case-Laws Income Tax Fri, 01 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250740