https://www.taxtmi.com/caselaws?id=333228 The High Court upheld the decisions of the lower authorities, affirming that export incentives should not be included in total turnover for computing the deduction under Section 10B of the Income Tax Act. The Court agreed with the interpretation that the entire profits derived from the business of the undertaking should be considered for calculating the eligible deduction. Consequently, the appeals were dismissed, favoring the assessee over the Department, in line with the precedent set by the Calcutta High Court in Chloride India Ltd. en-us Mon, 25 Jul 2016 00:00:00 +0530 Thu, 06 Oct 2016 18:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333228 The High Court upheld the decisions of the lower authorities, affirming that export incentives should not be included in total turnover for computing the deduction under Section 10B of the Income Tax Act. The Court agreed with the interpretation that the entire profits derived from the business of the undertaking should be considered for calculating the eligible deduction. Consequently, the appeals were dismissed, favoring the assessee over the Department, in line with the precedent set by the Calcutta High Court in Chloride India Ltd. Case-Laws Income Tax Mon, 25 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333228