https://www.taxtmi.com/caselaws?id=259937 The Tribunal dismissed both the assessee and Revenue appeals, upholding the Commissioner of Income Tax (Appeals) findings. The foreign exchange rate gain on the packing credit foreign currency loan was treated as income from other sources, not eligible for deduction under section 10A. Traveling expenditure in foreign currency was excluded from total turnover, following a Special Bench decision. Additionally, 50% of telecommunication expenditure in Indian Rupees was not excluded from export turnover, as it was not incurred in foreign exchange. The Tribunal affirmed these decisions based on established judicial precedents. en-us Wed, 20 May 2015 00:00:00 +0530 Wed, 27 May 2015 10:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259937 The Tribunal dismissed both the assessee and Revenue appeals, upholding the Commissioner of Income Tax (Appeals) findings. The foreign exchange rate gain on the packing credit foreign currency loan was treated as income from other sources, not eligible for deduction under section 10A. Traveling expenditure in foreign currency was excluded from total turnover, following a Special Bench decision. Additionally, 50% of telecommunication expenditure in Indian Rupees was not excluded from export turnover, as it was not incurred in foreign exchange. The Tribunal affirmed these decisions based on established judicial precedents. Case-Laws Income Tax Wed, 20 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259937