https://www.taxtmi.com/caselaws?id=358457 The Tribunal upheld the exclusion of telecommunication and insurance expenses from export turnover for deduction under section 10A of the Income Tax Act, following a decision by the Hon'ble Karnataka High Court. Regarding interest income from fixed deposits, the Tribunal remanded the issue for further examination on the source of the deposits. The Tribunal allowed the deduction for loss on foreign exchange fluctuation from forward contracts, emphasizing non-speculative nature based on previous judicial decisions. en-us Fri, 06 Apr 2018 00:00:00 +0530 Fri, 22 Jun 2018 18:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358457 The Tribunal upheld the exclusion of telecommunication and insurance expenses from export turnover for deduction under section 10A of the Income Tax Act, following a decision by the Hon'ble Karnataka High Court. Regarding interest income from fixed deposits, the Tribunal remanded the issue for further examination on the source of the deposits. The Tribunal allowed the deduction for loss on foreign exchange fluctuation from forward contracts, emphasizing non-speculative nature based on previous judicial decisions. Case-Laws Income Tax Fri, 06 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358457