2013 (1) TMI 984 - HC - Income Tax

Summary

The Bombay High Court dismissed the appeal for Assessment Year 2005-2006 regarding the exclusion of expenses from export turnover while computing deduction under sections 10A & 10B of the IT Act 1961. The court upheld the decision in the case of Commissioner of IncomeTax v/s. Gem Plus Jewellery India Ltd., stating that the expenses should be excluded. The appeal was dismissed with no order as to costs.