https://www.taxtmi.com/caselaws?id=263501 The Hon'ble High Court remanded the issue to the Tribunal for reconsideration on excluding certain foreign exchange expenses from export turnover for deduction under section 10B of the Income Tax Act, 1961. The Tribunal ruled in favor of the assessee, directing that expenses like telecommunication, insurance, personnel, and professional expenses in foreign exchange should not be excluded from export turnover. The Tribunal emphasized verifying the nature of expenditure and allowed the assessee's appeals for certain assessment years while dismissing the Revenue's appeal for another, ensuring expenses in foreign exchange were fairly considered for deductions under the Act. en-us Wed, 04 Mar 2015 00:00:00 +0530 Mon, 27 Jul 2015 10:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263501 The Hon'ble High Court remanded the issue to the Tribunal for reconsideration on excluding certain foreign exchange expenses from export turnover for deduction under section 10B of the Income Tax Act, 1961. The Tribunal ruled in favor of the assessee, directing that expenses like telecommunication, insurance, personnel, and professional expenses in foreign exchange should not be excluded from export turnover. The Tribunal emphasized verifying the nature of expenditure and allowed the assessee's appeals for certain assessment years while dismissing the Revenue's appeal for another, ensuring expenses in foreign exchange were fairly considered for deductions under the Act. Case-Laws Income Tax Wed, 04 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263501