https://www.taxtmi.com/caselaws?id=296494 Deduction under section 10B was denied on sales made to a domestic 100% export-oriented undertaking because the statutory condition requires receipt of export proceeds in convertible foreign exchange, and the Exim policy could not override that requirement. Foreign exchange expenditure on insurance, travelling and communication had to be reduced from both export turnover and total turnover for a consistent computation of the deduction, following the jurisdictional High Court ratio. en-us Wed, 15 Mar 2017 00:00:00 +0530 Fri, 20 Feb 2026 17:20:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296494 Deduction under section 10B was denied on sales made to a domestic 100% export-oriented undertaking because the statutory condition requires receipt of export proceeds in convertible foreign exchange, and the Exim policy could not override that requirement. Foreign exchange expenditure on insurance, travelling and communication had to be reduced from both export turnover and total turnover for a consistent computation of the deduction, following the jurisdictional High Court ratio. Case-Laws Income Tax Wed, 15 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296494