https://www.taxtmi.com/caselaws?id=178739 The High Court of Karnataka held that the expenditure incurred by the assessee should be excluded from the total turnover when computing relief under Section 10A of the Income Tax Act, aligning with the legislative intent to promote exports and provide incentives. The Court emphasized the need for uniformity in the formula for calculating export profits under Section 10A, concluding that the interpretation should exclude the expenditure from the total turnover. As a result, the appeal was dismissed, and the substantial question of law was answered in favor of the assessee and against the revenue. en-us Wed, 02 Nov 2011 00:00:00 +0530 Thu, 11 Feb 2016 17:56:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178739 The High Court of Karnataka held that the expenditure incurred by the assessee should be excluded from the total turnover when computing relief under Section 10A of the Income Tax Act, aligning with the legislative intent to promote exports and provide incentives. The Court emphasized the need for uniformity in the formula for calculating export profits under Section 10A, concluding that the interpretation should exclude the expenditure from the total turnover. As a result, the appeal was dismissed, and the substantial question of law was answered in favor of the assessee and against the revenue. Case-Laws Income Tax Wed, 02 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178739