https://www.taxtmi.com/caselaws?id=258591 The Tribunal directed the Assessing Officer to re-compute taxable profit for book profit computation u/s 115JA based on adjusted book profits u/s 115JA, following Supreme Court decisions. The issue of curtailed 80IA deduction was sent back for re-examination. Lease equalization charges were allowed as deductions from book profits u/s 115JA. Exchange rate fluctuation gains were treated as part of export turnover for 80HHC purposes. Scrap sales were excluded from total turnover for 80HHC deduction. Unrealized export proceeds were not contested, and losses on trading exports were upheld for 80HHC deduction. Other issues were decided based on legal precedents and past decisions. en-us Fri, 13 Mar 2015 00:00:00 +0530 Tue, 14 Apr 2015 08:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258591 The Tribunal directed the Assessing Officer to re-compute taxable profit for book profit computation u/s 115JA based on adjusted book profits u/s 115JA, following Supreme Court decisions. The issue of curtailed 80IA deduction was sent back for re-examination. Lease equalization charges were allowed as deductions from book profits u/s 115JA. Exchange rate fluctuation gains were treated as part of export turnover for 80HHC purposes. Scrap sales were excluded from total turnover for 80HHC deduction. Unrealized export proceeds were not contested, and losses on trading exports were upheld for 80HHC deduction. Other issues were decided based on legal precedents and past decisions. Case-Laws Income Tax Fri, 13 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258591