https://www.taxtmi.com/highlights?id=93137 ITAT dismissed the Revenue's appeal and upheld the CIT(A)'s orders: the amount characterized as an "arbitration award" was held to be a typographical misclassification of software sale and the related addition was deleted; foreign exchange fluctuation gains were held to be business receipts directly relatable to export of software and therefore eligible for exemption under s.10A; and no disallowance under s.40(a)(ia) was warranted where the assessee had deducted tax at source (albeit at a lower rate) on the buy-back consideration, such deduction being treated as compliance with the TDS obligation. The Revenue's challenge was therefore rejected in entirety. en-us Tue, 07 Oct 2025 08:30:49 +0530 Tue, 07 Oct 2025 08:30:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=93137 ITAT dismissed the Revenue's appeal and upheld the CIT(A)'s orders: the amount characterized as an "arbitration award" was held to be a typographical misclassification of software sale and the related addition was deleted; foreign exchange fluctuation gains were held to be business receipts directly relatable to export of software and therefore eligible for exemption under s.10A; and no disallowance under s.40(a)(ia) was warranted where the assessee had deducted tax at source (albeit at a lower rate) on the buy-back consideration, such deduction being treated as compliance with the TDS obligation. The Revenue's challenge was therefore rejected in entirety. Highlights Income Tax Tue, 07 Oct 2025 08:30:49 +0530 https://www.taxtmi.com/highlights?id=93137