https://www.taxtmi.com/caselaws?id=462323 Foreign currency expenditure and telecommunication charges attributable to delivery of software outside India were treated as excludible from both export turnover and total turnover for section 10B computation, following binding precedent. Interest under section 234D was held leviable from assessment year 2004-05 onwards in line with earlier decisions. An unreasoned 2% disallowance under section 14A of exempt income was not sustained. Current losses of an eligible unit were required to be set off against profits of other eligible units before deduction under sections 10A and 10B, as already settled by the Supreme Court. On all substantial questions, the Revenue's appeals failed. en-us Wed, 20 Oct 2021 00:00:00 +0530 Mon, 09 Jun 2025 10:53:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462323 Foreign currency expenditure and telecommunication charges attributable to delivery of software outside India were treated as excludible from both export turnover and total turnover for section 10B computation, following binding precedent. Interest under section 234D was held leviable from assessment year 2004-05 onwards in line with earlier decisions. An unreasoned 2% disallowance under section 14A of exempt income was not sustained. Current losses of an eligible unit were required to be set off against profits of other eligible units before deduction under sections 10A and 10B, as already settled by the Supreme Court. On all substantial questions, the Revenue's appeals failed. Case-Laws Income Tax Wed, 20 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462323