Expenses excluded from Export Turnover to be excluded from Total Turnover while computing Deduction u/s 10A of Act: ITAT [Read Order]

ITAT - ITAT Mumbai - Income Tax - Section 10A of Income tax act - Export turnover - Tax deduction - taxscan

The Income Tax Appellate Tribunal ( ITAT ) of Mumbai bench held that expenses excluded from the export turnover are to be excluded from the total turnover while computing the deduction under Section 10A of the Income Tax Act, 1961. The Assessee Crisil Limited has two business divisions namely (i) Ratings and (ii) Research. Under the…

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