https://www.taxtmi.com/caselaws?id=333669 The Tribunal allowed the Assessee's appeal, overturning the disallowance of a deduction under Section 10AA of the Income Tax Act. It held that the Assessee's export turnover qualified for deduction, including sales to various entities, contrary to the lower authorities' interpretation. The Tribunal emphasized that Section 10AA does not mandate direct exports or foreign currency inflow. The decision provided relief to the Assessee, setting aside the penalties and interest levied by the lower authorities. en-us Tue, 30 Aug 2016 00:00:00 +0530 Thu, 20 Oct 2016 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333669 The Tribunal allowed the Assessee's appeal, overturning the disallowance of a deduction under Section 10AA of the Income Tax Act. It held that the Assessee's export turnover qualified for deduction, including sales to various entities, contrary to the lower authorities' interpretation. The Tribunal emphasized that Section 10AA does not mandate direct exports or foreign currency inflow. The decision provided relief to the Assessee, setting aside the penalties and interest levied by the lower authorities. Case-Laws Income Tax Tue, 30 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333669