https://www.taxtmi.com/caselaws?id=398650 The appeal resulted in a mixed outcome. The HC upheld the disallowance under Section 14A, answering the Substantial Question of Law No.1 against the assessee. However, it favored the assessee on Substantial Questions of Law Nos. 2 and 3, determining that foreign currency expenditures integral to software development should not be excluded from 'Export Turnover'. The Court remanded the issue of deduction under Section 10A related to exempt income back to the Tribunal for reconsideration, emphasizing the need for a thorough examination of the assessee's entitlement. The appeal was thus partly allowed, with specific issues requiring further adjudication. en-us Fri, 11 Sep 2020 00:00:00 +0530 Tue, 05 Nov 2024 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398650 The appeal resulted in a mixed outcome. The HC upheld the disallowance under Section 14A, answering the Substantial Question of Law No.1 against the assessee. However, it favored the assessee on Substantial Questions of Law Nos. 2 and 3, determining that foreign currency expenditures integral to software development should not be excluded from 'Export Turnover'. The Court remanded the issue of deduction under Section 10A related to exempt income back to the Tribunal for reconsideration, emphasizing the need for a thorough examination of the assessee's entitlement. The appeal was thus partly allowed, with specific issues requiring further adjudication. Case-Laws Income Tax Fri, 11 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398650