https://www.taxtmi.com/caselaws?id=263984 The Tribunal upheld the CIT(A)'s decision in the Revenue's appeal, ruling that certain expenses in foreign currency excluded from export turnover should also be excluded from total turnover for deduction under section 10B of the Income Tax Act. In the Assessee's appeal, the Tribunal allowed the appeal for statistical purposes, emphasizing the CIT(A)'s authority to consider additional grounds like depreciation on goodwill under section 32(1)(ii) of the Act. The Tribunal remanded the issue to the AO for fresh consideration, highlighting the significance of legal precedents and the CIT(A)'s powers in addressing such claims. en-us Wed, 26 Aug 2015 00:00:00 +0530 Tue, 15 Sep 2015 07:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263984 The Tribunal upheld the CIT(A)'s decision in the Revenue's appeal, ruling that certain expenses in foreign currency excluded from export turnover should also be excluded from total turnover for deduction under section 10B of the Income Tax Act. In the Assessee's appeal, the Tribunal allowed the appeal for statistical purposes, emphasizing the CIT(A)'s authority to consider additional grounds like depreciation on goodwill under section 32(1)(ii) of the Act. The Tribunal remanded the issue to the AO for fresh consideration, highlighting the significance of legal precedents and the CIT(A)'s powers in addressing such claims. Case-Laws Income Tax Wed, 26 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263984