https://www.taxtmi.com/caselaws?id=294512 The Appellate Tribunal ITAT Chennai dismissed the Revenue's appeals against the Commissioner of Income-tax(Appeals)-IV's order for the assessment years 2005-06 and 2006-07 under section 143(3) of the Income-tax Act, 1961. The issue revolved around the treatment of travelling expenditure in foreign currency for the deduction under section 10A. The Tribunal relied on precedents from various High Courts and a previous ruling by the Special Bench of the Income-tax Appellate Tribunal, Chennai, to support the principle that adjustments in the numerator should be reflected in the denominator for expenses in foreign currency under section 10A. en-us Tue, 31 Jul 2012 00:00:00 +0530 Mon, 19 Apr 2021 10:57:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294512 The Appellate Tribunal ITAT Chennai dismissed the Revenue's appeals against the Commissioner of Income-tax(Appeals)-IV's order for the assessment years 2005-06 and 2006-07 under section 143(3) of the Income-tax Act, 1961. The issue revolved around the treatment of travelling expenditure in foreign currency for the deduction under section 10A. The Tribunal relied on precedents from various High Courts and a previous ruling by the Special Bench of the Income-tax Appellate Tribunal, Chennai, to support the principle that adjustments in the numerator should be reflected in the denominator for expenses in foreign currency under section 10A. Case-Laws Income Tax Tue, 31 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294512