https://www.taxtmi.com/caselaws?id=779503 ITAT upheld the appellate order dismissing the Revenue's appeal. The tribunal found the "Arbitration Award" entry to be a typographical misclassification of software sales and deleted the disallowance. Gains from foreign exchange fluctuation were held to be business income connected to export receipts and eligible for exemption under s.10A, consistent with earlier years. Disallowance under s.40(a)(ia) was rejected because TDS had been deducted (albeit at a lower rate), satisfying compliance. The AO's inconsistent treatment of turnover and the alleged excess exemption was rejected. en-us Fri, 12 Sep 2025 00:00:00 +0530 Tue, 07 Oct 2025 08:30:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779503 ITAT upheld the appellate order dismissing the Revenue's appeal. The tribunal found the "Arbitration Award" entry to be a typographical misclassification of software sales and deleted the disallowance. Gains from foreign exchange fluctuation were held to be business income connected to export receipts and eligible for exemption under s.10A, consistent with earlier years. Disallowance under s.40(a)(ia) was rejected because TDS had been deducted (albeit at a lower rate), satisfying compliance. The AO's inconsistent treatment of turnover and the alleged excess exemption was rejected. Case-Laws Income Tax Fri, 12 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779503