https://www.taxtmi.com/caselaws?id=425405 The High Court ruled in favor of the appellant, holding that expenses excluded from export turnover should also be excluded from total turnover when computing deduction under Section 10B of the Income Tax Act, 1961. The court emphasized aligning deductions with legislative intent and dismissed the appeal filed by the Revenue, citing established interpretation principles. The court reaffirmed the necessity of excluding certain expenses from both export turnover and total turnover for a coherent interpretation of the deduction formula, ultimately ruling in favor of the Assessee based on legal principles and interpretations. en-us Tue, 14 Jun 2022 00:00:00 +0530 Fri, 22 Jul 2022 09:19:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425405 The High Court ruled in favor of the appellant, holding that expenses excluded from export turnover should also be excluded from total turnover when computing deduction under Section 10B of the Income Tax Act, 1961. The court emphasized aligning deductions with legislative intent and dismissed the appeal filed by the Revenue, citing established interpretation principles. The court reaffirmed the necessity of excluding certain expenses from both export turnover and total turnover for a coherent interpretation of the deduction formula, ultimately ruling in favor of the Assessee based on legal principles and interpretations. Case-Laws Income Tax Tue, 14 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425405