Amount excluded from export turnover should also be excluded from total turnover for purposes of sections 10A or 10B of IT Act, 1961

RELEVENT PARAGRAPHS 25. We now proceed to examine the contention of the revenue that the principle of parity between export turnover and total turnover was rejected by the Supreme Court in Nair’s case (supra). In this case the narrow dispute which arose for determination was whether the department was right in including the processing charges received by the assessee in the total turnover while arriving at the export profits u/s.80HHC(3) as it stood in relation to the asst year 1993-94. The contention of the assessee before the Supreme Court inter alia was that though such charges were i...