https://www.taxtmi.com/caselaws?id=339486 The appellate tribunal allowed the appeal of the assessee in a case concerning the recomputation of exempted profit under section 10B of the Income Tax Act for the assessment year 2005-06. The tribunal emphasized the need for uniformity in the components of both the numerator and the denominator of the formula, ruling that if certain expenses, such as export freight, were excluded from the export turnover, they should also be excluded from the total turnover. This decision was based on the principle of parity, leading to the allowance of the appeal. en-us Mon, 20 Feb 2017 00:00:00 +0530 Fri, 24 Feb 2017 12:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339486 The appellate tribunal allowed the appeal of the assessee in a case concerning the recomputation of exempted profit under section 10B of the Income Tax Act for the assessment year 2005-06. The tribunal emphasized the need for uniformity in the components of both the numerator and the denominator of the formula, ruling that if certain expenses, such as export freight, were excluded from the export turnover, they should also be excluded from the total turnover. This decision was based on the principle of parity, leading to the allowance of the appeal. Case-Laws Income Tax Mon, 20 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339486