Foreign Currency Expenses on software development is to be excluded from Export Turnover in Computation of deduction U/s. 10A & 80HHE

ITAT CHENNAI BENCH ‘B’ Polaris Software Lab Versus Additional Commissioner of Income-tax IT Appeal Nos. 1703, 1731, 1826 & 1827 (Mds.) of 2010 [ASSESSMENT YEARS 2004-05 & 2005-06] JANUARY  21, 2013 ORDER V. Durga Rao, Judicial Member – These cross appeals by the assessee and the Revenue are directed against the orders of the CIT(Appeals)- V, Chennai for the assessment years 2004-05 and 2005-06. As common issues are involved in these appeals, they were heard together and are being disposed of by this common order for the sake of convenience. 2. In th...