https://www.taxtmi.com/caselaws?id=468938 Foreign currency expenditure incurred on software development work outside India was treated, following the assessee's own earlier years, as governed by the same reasoning and the Revenue's objection to its exclusion from export turnover under section 10A and section 80HHE failed. Interest earned on fixed deposits kept as collateral security was found to arise from bank deposits rather than from the software business, so no direct business nexus was established for deduction under section 10A; however, the assessee was allowed to show any expenditure incurred to earn that interest income for consideration by the Assessing Officer. en-us Mon, 21 Jan 2013 00:00:00 +0530 Tue, 26 May 2026 10:30:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468938 Foreign currency expenditure incurred on software development work outside India was treated, following the assessee's own earlier years, as governed by the same reasoning and the Revenue's objection to its exclusion from export turnover under section 10A and section 80HHE failed. Interest earned on fixed deposits kept as collateral security was found to arise from bank deposits rather than from the software business, so no direct business nexus was established for deduction under section 10A; however, the assessee was allowed to show any expenditure incurred to earn that interest income for consideration by the Assessing Officer. Case-Laws Income Tax Mon, 21 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468938