Definition of export turnover given in Explanation 2 to sec. 10A excludes freight & insurance

 HIGH COURT OF BOMBAY, CIT Vs. Gem Plus Jewellery India Ltd. APPEAL NO: ITA No. 2426 of 2009, 233 CTR 248 (Bombay HC), (2011) 330 ITR 175 (Bom.), [2010] 194 Taxman 192 (Bom.)  DECIDED ON June 23, 2010 ORAL JUDGMENT (Per. DR.D.Y.CHANDRACHUD, J.) : 1. Admit. On the request of counsel for the Revenue and counsel for the assessee, the appeal is taken up for final hearing. 2. This appeal by the Revenue under Section 260­A of the Income Tax Act, 1961 pertains to Assessment Year 2003­04 and the following questions of law have been formulated in support of the appeal : “a. W...