https://www.taxtmi.com/caselaws?id=409091 The Appellate Tribunal ITAT Bangalore ruled in favor of the assessee on multiple issues. The Tribunal held that expenses like communication charges, foreign currency expenditure, and unrealized export proceeds should not be disallowed from the export turnover or total turnover when computing deductions under section 10A of the Income-tax Act, 1961. The Tribunal also directed a re-examination of the unrealized export proceeds deduction in line with a circular issued by the RBI. Additionally, the Tribunal allowed the assessee's additional foreign tax credit claim, referring the matter back to the Assessing Officer for examination. en-us Mon, 28 Jun 2021 00:00:00 +0530 Tue, 29 Jun 2021 09:59:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409091 The Appellate Tribunal ITAT Bangalore ruled in favor of the assessee on multiple issues. The Tribunal held that expenses like communication charges, foreign currency expenditure, and unrealized export proceeds should not be disallowed from the export turnover or total turnover when computing deductions under section 10A of the Income-tax Act, 1961. The Tribunal also directed a re-examination of the unrealized export proceeds deduction in line with a circular issued by the RBI. Additionally, the Tribunal allowed the assessee's additional foreign tax credit claim, referring the matter back to the Assessing Officer for examination. Case-Laws Income Tax Mon, 28 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409091