https://www.taxtmi.com/caselaws?id=290407 The Tribunal upheld the ld. CIT(A)'s order, dismissing the Revenue's appeals regarding the treatment of foreign exchange expenditure and amortization of capital expenditure. The expenses in foreign currency for technical services were held to be excluded from both export and total turnover for calculating deduction u/s 10B. Additionally, the claim for amortization of business acquisition expenses related to acquiring clientele and resources in the USA was allowed. The Tribunal directed the Assessing Officer to reconsider the issues in line with the Tribunal's decisions, allowing the appeals only for statistical purposes. en-us Thu, 30 Jun 2011 00:00:00 +0530 Thu, 24 Sep 2020 18:19:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290407 The Tribunal upheld the ld. CIT(A)'s order, dismissing the Revenue's appeals regarding the treatment of foreign exchange expenditure and amortization of capital expenditure. The expenses in foreign currency for technical services were held to be excluded from both export and total turnover for calculating deduction u/s 10B. Additionally, the claim for amortization of business acquisition expenses related to acquiring clientele and resources in the USA was allowed. The Tribunal directed the Assessing Officer to reconsider the issues in line with the Tribunal's decisions, allowing the appeals only for statistical purposes. Case-Laws Income Tax Thu, 30 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290407