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| The Tax Publishers2019 TaxPub(DT) 2291 (Hyd-Trib) INCOME TAX ACT, 1961
Section 10AA
Total turnover for the purpose of section 10AA includes domestic as well as export turnover, therefore, any item excluded from the export turnover, had to be excluded from the total turnover also so as to arrive at amount deductible.
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Deduction under section 10AA - Computation - Total turnover - Treatment of item excluded from export turnover
Assessee claimed deduction under section 10AA. AO re-computed amount deductible by excluding telecommunication charges from export turnover, however, without reducing the same from total turnover.Held: Total turnover for the purpose of section 10AA includes domestic as well as export turnover, therefore, any item excluded from the export turnover, had to be excluded from the total turnover so as to arrive at amount deductible.
Relied: CIT v. Tata Elxsi Ltd. reported in (2012) 349 ITR 98 (Karn) : 2011 TaxPub(DT) 1960 (Karn-HC) and B.A. Continuum ITA No. 440/2017.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2013-14
INCOME TAX ACT, 1961
Section 92C
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