https://www.taxtmi.com/caselaws?id=397826 HC held that expenditure in foreign exchange deducted from export turnover must also be excluded from total turnover when computing deduction under section 10B. Brought-forward losses and unabsorbed depreciation cannot be set off against profits for computing the section 10B deduction. The court applied binding precedents adverse to the revenue on these points and treated expenditure incurred for application software in accordance with prior HC authority decided against the revenue. en-us Tue, 25 Aug 2020 00:00:00 +0530 Fri, 22 Aug 2025 22:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397826 HC held that expenditure in foreign exchange deducted from export turnover must also be excluded from total turnover when computing deduction under section 10B. Brought-forward losses and unabsorbed depreciation cannot be set off against profits for computing the section 10B deduction. The court applied binding precedents adverse to the revenue on these points and treated expenditure incurred for application software in accordance with prior HC authority decided against the revenue. Case-Laws Income Tax Tue, 25 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397826