Expense reduced from export turnover should also be reduced from total turnover for calculating deduction u/s 10AA

Infosys Ltd Vs ACIT (ITAT Bangalore)

ITAT Bangalore held that expenditure reduced from export turnover should also be reduced from total turnover while computing deduction under section 10AA of the Income Tax Act.

Facts- During the relevant previous year, the assessee had incurred brand building expenses of Rs.81,79,53,112/-. The brand building expenditure were in the nature of subscription to research reports by research agencies and advisory services, participation/sponsorship in seminars, exhibitio

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