https://www.taxtmi.com/caselaws?id=417561 Foreign currency expenditure incurred in connection with export operations had to be excluded consistently from both export turnover and total turnover when computing deduction under section 10A. The applicable principle was already settled by the Supreme Court, and the departmental circular also indicated that appeals on the issue should not be pursued. Applying that settled position, the computation had to reflect the same exclusion for both components of turnover, resulting in the issue being resolved in favour of the assessee and against the Revenue. en-us Mon, 06 Dec 2021 00:00:00 +0530 Thu, 27 Jan 2022 08:41:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417561 Foreign currency expenditure incurred in connection with export operations had to be excluded consistently from both export turnover and total turnover when computing deduction under section 10A. The applicable principle was already settled by the Supreme Court, and the departmental circular also indicated that appeals on the issue should not be pursued. Applying that settled position, the computation had to reflect the same exclusion for both components of turnover, resulting in the issue being resolved in favour of the assessee and against the Revenue. Case-Laws Income Tax Mon, 06 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417561