https://www.taxtmi.com/caselaws?id=409469 The High Court dismissed the Revenue's appeal, ruling against them on all legal issues and in favor of the assessee. The Court upheld the interpretation that telecommunication expenses should be excluded from both export turnover and total turnover for computing deductions under Section 10A. It clarified that the definition of 'export turnover' should not include certain expenses as defined in other sections. Additionally, the Court held that deductions under Section 10A should not be reduced by setting off brought forward losses and unabsorbed depreciation. The decision aimed to support businesses in free trade zones as intended by the legislation. en-us Thu, 01 Jul 2021 00:00:00 +0530 Wed, 07 Jul 2021 10:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409469 The High Court dismissed the Revenue's appeal, ruling against them on all legal issues and in favor of the assessee. The Court upheld the interpretation that telecommunication expenses should be excluded from both export turnover and total turnover for computing deductions under Section 10A. It clarified that the definition of 'export turnover' should not include certain expenses as defined in other sections. Additionally, the Court held that deductions under Section 10A should not be reduced by setting off brought forward losses and unabsorbed depreciation. The decision aimed to support businesses in free trade zones as intended by the legislation. Case-Laws Income Tax Thu, 01 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409469