https://www.taxtmi.com/caselaws?id=398983 The Tribunal dismissed the revenue's appeal regarding the computation of deductions under sections 10A and 10AA of the Income-tax Act, upholding the direction to reduce expenses from both export turnover and total turnover. The Tribunal allowed the assessee's appeal on the disallowance of expenses incurred on the buy-back of shares, treating them as revenue expenditure. The Tribunal instructed the Assessing Officer to compute the deductions under sections 10A/10AA without setting off brought forward losses. The judgment was delivered on September 25, 2020. en-us Fri, 25 Sep 2020 00:00:00 +0530 Mon, 28 Sep 2020 10:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398983 The Tribunal dismissed the revenue's appeal regarding the computation of deductions under sections 10A and 10AA of the Income-tax Act, upholding the direction to reduce expenses from both export turnover and total turnover. The Tribunal allowed the assessee's appeal on the disallowance of expenses incurred on the buy-back of shares, treating them as revenue expenditure. The Tribunal instructed the Assessing Officer to compute the deductions under sections 10A/10AA without setting off brought forward losses. The judgment was delivered on September 25, 2020. Case-Laws Income Tax Fri, 25 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398983