https://www.taxtmi.com/caselaws?id=178813 The Tribunal upheld the disallowance of setting off carried forward and unabsorbed depreciation against profits under section 10B, citing lack of availability in records. Deemed exports were excluded from export turnover for deduction under section 10B, in line with judicial interpretations. Traded goods' inclusion in export turnover was remitted back for reconsideration by the AO. Freight charges were required to be excluded from both export and total turnover. Interest on fixed deposits was to be re-evaluated for potential classification as business income for section 10B benefits. The decisions underscored adherence to legal interpretations and legislative intent regarding section 10B provisions. en-us Wed, 20 Jan 2016 00:00:00 +0530 Fri, 29 Jun 2018 11:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178813 The Tribunal upheld the disallowance of setting off carried forward and unabsorbed depreciation against profits under section 10B, citing lack of availability in records. Deemed exports were excluded from export turnover for deduction under section 10B, in line with judicial interpretations. Traded goods' inclusion in export turnover was remitted back for reconsideration by the AO. Freight charges were required to be excluded from both export and total turnover. Interest on fixed deposits was to be re-evaluated for potential classification as business income for section 10B benefits. The decisions underscored adherence to legal interpretations and legislative intent regarding section 10B provisions. Case-Laws Income Tax Wed, 20 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178813