https://www.taxtmi.com/caselaws?id=401253 The Court ruled in favor of the assessee in an appeal concerning the Assessment Year 2006-07. It held that Section 10A does not permit reducing expenses incurred in foreign currency from both export and total turnover, answering the first substantial question of law against the revenue. Additionally, the Court found in favor of the assessee regarding the treatment of losses of 10A unit and non-10A units, following legal precedents. The disallowance under Section 14A was also upheld in favor of the assessee, emphasizing the importance of a meticulous analysis of evidence and adherence to established legal principles in tax law interpretation. en-us Mon, 09 Nov 2020 00:00:00 +0530 Wed, 02 Dec 2020 18:27:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401253 The Court ruled in favor of the assessee in an appeal concerning the Assessment Year 2006-07. It held that Section 10A does not permit reducing expenses incurred in foreign currency from both export and total turnover, answering the first substantial question of law against the revenue. Additionally, the Court found in favor of the assessee regarding the treatment of losses of 10A unit and non-10A units, following legal precedents. The disallowance under Section 14A was also upheld in favor of the assessee, emphasizing the importance of a meticulous analysis of evidence and adherence to established legal principles in tax law interpretation. Case-Laws Income Tax Mon, 09 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401253