https://www.taxtmi.com/caselaws?id=295147 Deduction under section 10B was to be computed on profits of the eligible undertaking, so business-linked receipts such as margin-money interest and cheque-bounce recoveries, net of related charges, could be included, and additions back to business income including section 40(a) disallowances could enhance eligible profits. Turnover for the formula also had to be calculated on a parity basis by excluding excise duty where it was excluded from export turnover. The section 14A disallowance was sent back for reconsideration in light of the assessee's suo motu disallowance, the employees' provident fund and ESIC disallowance for delayed payment was deleted, and the section 145A issue was remitted for corresponding opening stock adjustment and consistent valuation. en-us Fri, 05 May 2017 00:00:00 +0530 Sat, 07 Jan 2023 10:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295147 Deduction under section 10B was to be computed on profits of the eligible undertaking, so business-linked receipts such as margin-money interest and cheque-bounce recoveries, net of related charges, could be included, and additions back to business income including section 40(a) disallowances could enhance eligible profits. Turnover for the formula also had to be calculated on a parity basis by excluding excise duty where it was excluded from export turnover. The section 14A disallowance was sent back for reconsideration in light of the assessee's suo motu disallowance, the employees' provident fund and ESIC disallowance for delayed payment was deleted, and the section 145A issue was remitted for corresponding opening stock adjustment and consistent valuation. Case-Laws Income Tax Fri, 05 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295147