https://www.taxtmi.com/caselaws?id=404496 The Madras High Court dismissed the appeals in favor of the software company, upholding that expenses excluded from export turnover should also be excluded from total turnover under Section 10A of the Income Tax Act. The Court emphasized the need for consistency in interpreting the formula components, aligning with judicial precedents to maintain uniformity and respect legislative intent. The decision was supported by the Supreme Court's ruling in a related case and the Karnataka High Court's judgment, with no contradictory decisions backing the Revenue's stance. en-us Fri, 19 Feb 2021 00:00:00 +0530 Wed, 24 Feb 2021 09:44:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404496 The Madras High Court dismissed the appeals in favor of the software company, upholding that expenses excluded from export turnover should also be excluded from total turnover under Section 10A of the Income Tax Act. The Court emphasized the need for consistency in interpreting the formula components, aligning with judicial precedents to maintain uniformity and respect legislative intent. The decision was supported by the Supreme Court's ruling in a related case and the Karnataka High Court's judgment, with no contradictory decisions backing the Revenue's stance. Case-Laws Income Tax Fri, 19 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404496