https://www.taxtmi.com/caselaws?id=470890 Section 10A requires parity between export turnover and total turnover: any foreign-exchange gain excluded from export turnover must also be excluded from total turnover, because export turnover forms part of total turnover and asymmetric exclusions distort the deduction formula. Foreign-exchange results from forward contracts require verification of their nexus with export proceeds. Gains or losses from derivative contracts qualify as hedging results only where the contracts cover foreign-exchange risk relating to export proceeds. Where that nexus is established, the Section 10A computation should consider only the net profit or loss from the hedging transactions. en-us Thu, 27 Mar 2025 00:00:00 +0530 Wed, 12 Aug 2026 21:28:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470890 Section 10A requires parity between export turnover and total turnover: any foreign-exchange gain excluded from export turnover must also be excluded from total turnover, because export turnover forms part of total turnover and asymmetric exclusions distort the deduction formula. Foreign-exchange results from forward contracts require verification of their nexus with export proceeds. Gains or losses from derivative contracts qualify as hedging results only where the contracts cover foreign-exchange risk relating to export proceeds. Where that nexus is established, the Section 10A computation should consider only the net profit or loss from the hedging transactions. Case-Laws Income Tax Thu, 27 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470890