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| The Tax Publishers2020 TaxPub(DT) 5029 (Karn-HC) : (2021) 277 TAXMAN 0320 INCOME TAX ACT, 1961
Section 10A
While computing deduction under section 10A, expenses incurred in foreign currency from both export and total turnover is to be reduced following the decision held in case of CIT v. HCL Technologies Ltd.' [(2018) 404 ITR 719 (SC) : 2018 TaxPub(DT) 2138 (SC)].
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Deduction under section 10A - Undertaking in free trade zone - Computation of total turnover - Treatment of expenses incurred in foreign currency
Assessee filed appeal against the order of AO which held that section 10A does not permit assessee to reduce expenses incurred in foreign currency from both export and total turnover. Held: The issue raised was decided in favour of assessee following the decision held in case of CIT-III, New Delhi v. HCL Technologies Ltd.' [(2018) 404 ITR 719 (SC) : 2018 TaxPub(DT) 2138 (SC)].
REFERRED :
FAVOUR : In favour of assessee.
A.Y. : 2006-07
INCOME TAX ACT, 1961
Section 10A
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