https://www.taxtmi.com/caselaws?id=469863 Only expenses and receipts with a direct statutory nexus to the relevant profits can be used in deduction computations. Corporate office overheads, head-office depreciation, finance cost and research and development expenses were not loaded to the eligible units because the required nexus was not established, while net interest, not gross interest, governed the reduction under export-profit computation. A provision for advertisement and sales promotion based on approved estimates and commitments was treated as an ascertained liability, so it was not added back to book profit. Sales tax, general sales tax and marketing cess were excluded from total turnover for export deduction purposes, and the remaining grounds were sent back for verification or consequential relief. en-us Fri, 07 Mar 2025 00:00:00 +0530 Tue, 07 Jul 2026 21:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469863 Only expenses and receipts with a direct statutory nexus to the relevant profits can be used in deduction computations. Corporate office overheads, head-office depreciation, finance cost and research and development expenses were not loaded to the eligible units because the required nexus was not established, while net interest, not gross interest, governed the reduction under export-profit computation. A provision for advertisement and sales promotion based on approved estimates and commitments was treated as an ascertained liability, so it was not added back to book profit. Sales tax, general sales tax and marketing cess were excluded from total turnover for export deduction purposes, and the remaining grounds were sent back for verification or consequential relief. Case-Laws Income Tax Fri, 07 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469863