https://www.taxtmi.com/caselaws?id=410108 The Tribunal allowed the assessee's appeal regarding the correct application of deduction under section 10A of the Income Tax Act for assessment years 2008-09 and 2009-10. It held that belatedly realized amounts should be included in the export turnover for computing the deduction, following legal precedents. The decision emphasized the importance of receiving foreign exchange within the prescribed time but acknowledged that approval and receipt of belated proceeds could still entitle the assessee to the benefit. Consequently, the appeals were decided in favor of the assessee based on the proper interpretation of the law. en-us Thu, 22 Jul 2021 00:00:00 +0530 Sat, 24 Jul 2021 14:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410108 The Tribunal allowed the assessee's appeal regarding the correct application of deduction under section 10A of the Income Tax Act for assessment years 2008-09 and 2009-10. It held that belatedly realized amounts should be included in the export turnover for computing the deduction, following legal precedents. The decision emphasized the importance of receiving foreign exchange within the prescribed time but acknowledged that approval and receipt of belated proceeds could still entitle the assessee to the benefit. Consequently, the appeals were decided in favor of the assessee based on the proper interpretation of the law. Case-Laws Income Tax Thu, 22 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410108