2019 (3) TMI 1153

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....e the income in the light of the decision of the Special Bench in the case of Sak Soft by excluding the freight and insurance expenses both from the Export turnover and also from the total turnover while computing deduction under Section 10A which is contrary to the definition of Export Turnover given in Explanation 2(IV)? ii) Whether the Tribunal was right in holding that the expenses incurred in foreign currency relating to telecommunication, travel and conveyance are to be excluded both from the Export turnover and from the total turnover while computing deduction under Section 10A especially when the Section clearly states that the same is to be excluded only from the Export turnover as per Section 10A? iii) Whether the Tribunal oug....

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.... perusal of sub-section of 10A(2)(i)(c) of the Act quoted below would reveal that brought forward loss of any relevant Assessment Year before 1st April 2001 is not allowed to be carried forward and set off while computing the total income for determining the deduction under Section 10A of the Act. 5. Section 10A(2)(i)(c) reads as under:- "Special provision in respect of newly established undertakings in free trade zone, etc. 10A (1) Subject to the provisions of this section, a deduction of such profits and gains as are derived by an undertaking from the export of articles or things or computer software for a period of ten consecutive assessment years beginning with the assessment year relevant to the previous year in which the undertak....