https://www.taxtmi.com/caselaws?id=286534 The High Court ruled in favor of the assessee on all three issues. It held that rent and registration expenses for setting up a unit should be treated as revenue expenditure, not capital expenditure. The Court directed a fresh consideration on the exclusion of telecommunication expenses from export turnover. Additionally, it confirmed that tax holiday under Section 10-A applies to interest income derived from export-related activities. The judgment provided clarity on expense treatment, turnover calculations, and tax benefits eligibility, ensuring a fair outcome based on legal principles and precedents. en-us Mon, 13 Oct 2014 00:00:00 +0530 Tue, 03 Mar 2020 10:22:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286534 The High Court ruled in favor of the assessee on all three issues. It held that rent and registration expenses for setting up a unit should be treated as revenue expenditure, not capital expenditure. The Court directed a fresh consideration on the exclusion of telecommunication expenses from export turnover. Additionally, it confirmed that tax holiday under Section 10-A applies to interest income derived from export-related activities. The judgment provided clarity on expense treatment, turnover calculations, and tax benefits eligibility, ensuring a fair outcome based on legal principles and precedents. Case-Laws Income Tax Mon, 13 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286534