https://www.taxtmi.com/caselaws?id=293831 The Revenue's appeal regarding product development expenses in foreign currency for Assessment Year 2001-02 was dismissed. The Assessing Officer's reopening of assessment for AY 2001-02 and 2002-03 was upheld. Expenses exclusion from export turnover varied across different assessment years, with some upheld and others dismissed. Foreign travel expenses for AY 2001-02 were remanded, while those for AY 2002-03 were upheld. The disallowance of exchange fluctuation loss for AY 2004-05 was dismissed. Amortization expenses for AY 2004-05 and 2005-06 were remanded for further investigation. The outcome resulted in mixed decisions favoring both the assessee and the Revenue across different assessment years. en-us Mon, 28 Feb 2011 00:00:00 +0530 Thu, 04 Mar 2021 12:52:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293831 The Revenue's appeal regarding product development expenses in foreign currency for Assessment Year 2001-02 was dismissed. The Assessing Officer's reopening of assessment for AY 2001-02 and 2002-03 was upheld. Expenses exclusion from export turnover varied across different assessment years, with some upheld and others dismissed. Foreign travel expenses for AY 2001-02 were remanded, while those for AY 2002-03 were upheld. The disallowance of exchange fluctuation loss for AY 2004-05 was dismissed. Amortization expenses for AY 2004-05 and 2005-06 were remanded for further investigation. The outcome resulted in mixed decisions favoring both the assessee and the Revenue across different assessment years. Case-Laws Income Tax Mon, 28 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293831