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Expense deducted from export turnover should be deducted from total turnover for computing deduction u/s 10A
Case Law Details
- Case Name
- Pentasoft Technologies Ltd Vs ITO (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2004-05
- Courts
- All ITAT, ITAT Chennai
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Pentasoft Technologies Ltd Vs ITO (ITAT Chennai)
ITAT Chennai held that while computing deduction under section 10A of the Income Tax Act expenses deducted from export turnover needs to be deducted from total turnover.
Facts- The first issue involved here is assessment of income from sale of course material under the head ‘income from other sources’. The AO assessed income from course material under the head ‘income from other sources’ and also denied deduction claimed u/s.10A of the Act, on the ground that the receipts are not in the nature of profits & gains derived from export u...
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