https://www.taxtmi.com/caselaws?id=293907 The High Court of Madras ruled in favor of the Assessee against the Revenue in an appeal regarding the exclusion of certain expenses from export turnover and total turnover under Section 10B of the Income Tax Act. Citing a Supreme Court judgment, the High Court held that expenses excluded from export turnover should also be excluded from total turnover to ensure fairness and align with legislative intent. The judgment clarified the consistent application of these exclusions, leading to the dismissal of the Tax Cases (Appeals) without costs. en-us Thu, 10 Jan 2019 00:00:00 +0530 Mon, 08 Mar 2021 19:21:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293907 The High Court of Madras ruled in favor of the Assessee against the Revenue in an appeal regarding the exclusion of certain expenses from export turnover and total turnover under Section 10B of the Income Tax Act. Citing a Supreme Court judgment, the High Court held that expenses excluded from export turnover should also be excluded from total turnover to ensure fairness and align with legislative intent. The judgment clarified the consistent application of these exclusions, leading to the dismissal of the Tax Cases (Appeals) without costs. Case-Laws Income Tax Thu, 10 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293907