Karnataka H.C : The Tribunal is correct in directing the assessing officer to exclude expenses incurred in foreign currency and other expenses that has been excluded from ETO, from the total turnover also and accordingly recomputed the deduction under section 10A without appreciating the fact that there is no provision in sec. 10A that such expenses should be reduced from the total turnover also as clause (iv) of the Explanat on 2 to Sec. 10A provides that such expenses are to be reduced only from the export turnover

High Court Of Karnataka Pr.CIT And Anr. vs. Cypress Semiconductors Technology India Pvt. Ltd. Section : 260A Asst. Year 2005-06 Vineet Kothari & S. Sujatha, JJ. ITA No. 399/2017 16th August, 2018 Counsel appeared: Aravind K V, Adv. for the Petitioner S. SUJATHA, J. This Appeal is filed by the Revenue purportedly raising substantial questions…

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