https://www.taxtmi.com/caselaws?id=184396 The Tribunal upheld the exclusion of US Branch sales and foreign travelling expenses from the total turnover and export turnover for computing the deduction under section 10B of the Income Tax Act, 1961. The Tribunal emphasized the requirement for sale proceeds to be received in convertible foreign exchange to qualify for the deduction, dismissing the argument that branch sales should be considered on-site development of exports. The exclusion of foreign travelling expenses from both turnovers was also confirmed based on precedent, leading to the dismissal of appeals by both the assessee and the Revenue. en-us Fri, 11 Jun 2010 00:00:00 +0530 Thu, 07 Jul 2016 12:38:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184396 The Tribunal upheld the exclusion of US Branch sales and foreign travelling expenses from the total turnover and export turnover for computing the deduction under section 10B of the Income Tax Act, 1961. The Tribunal emphasized the requirement for sale proceeds to be received in convertible foreign exchange to qualify for the deduction, dismissing the argument that branch sales should be considered on-site development of exports. The exclusion of foreign travelling expenses from both turnovers was also confirmed based on precedent, leading to the dismissal of appeals by both the assessee and the Revenue. Case-Laws Income Tax Fri, 11 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184396