https://www.taxtmi.com/caselaws?id=406347 The High Court of Madras, in a judgment by Justice M. Duraiswamy and Justice T.V. Thamilselvi, ruled against the Revenue in a case concerning the deduction under section 10A for travelling expenditure in foreign currency. The court held that such expenses should be excluded from the total turnover for computing deductions, aligning with previous judgments. Additionally, the court clarified the correct application of Section 10A for multiple Assessment Years, emphasizing adherence to Supreme Court decisions on income computation. Consequently, the court dismissed the appeal in favor of the assessee, maintaining consistency with legal precedent. en-us Tue, 09 Mar 2021 00:00:00 +0530 Mon, 12 Apr 2021 08:15:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406347 The High Court of Madras, in a judgment by Justice M. Duraiswamy and Justice T.V. Thamilselvi, ruled against the Revenue in a case concerning the deduction under section 10A for travelling expenditure in foreign currency. The court held that such expenses should be excluded from the total turnover for computing deductions, aligning with previous judgments. Additionally, the court clarified the correct application of Section 10A for multiple Assessment Years, emphasizing adherence to Supreme Court decisions on income computation. Consequently, the court dismissed the appeal in favor of the assessee, maintaining consistency with legal precedent. Case-Laws Income Tax Tue, 09 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406347