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TMI Blog2011 (11) TMI 430X X X X Extracts X X X X X X X X Extracts X X X X ..... of 2009 - - - Dated:- 2-11-2011 - N. Kumar and Ravi Malimath, JJ. K.V. Aravind for the Appellant. Smt. Vani H. for the Respondent. JUDGMENT N. Kumar, J. The question that arises for consideration in this appeal is whether the Tribunal was correct in holding that when computing relief under section 10A of the Income-tax Act, 1961 the expenditure incurred by the assessee s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tic business, the legislature intended to have a formula to ascertain the profits from export business by apportioning the total profits of the business on the basis of turnovers. Apportionment of profits on the basis of turnover was accepted as a method of arriving at export profits. In the case of section 80HHC, the export profit is to be derived from the total business income of the assessee, w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enominator. The reason being the total turnover includes export turnover. The components of the export turnover in the numerator and the denominator cannot be different. Therefore, though there is no definition of the term 'total turnover' in section 10A, there is nothing in the said section to mandate that, what is excluded from the numerator that is export turnover would nevertheless form part o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the legislative intent and impermissible. If that were the intention of the legislature, they would have expressly stated so. If they have not chosen to expressly define what the total turnover means, then, when the total turnover includes export turnover, the meaning assigned by the legislature to the export turnover is to be respected and given effect to, while interpreting the total turnove ..... X X X X Extracts X X X X X X X X Extracts X X X X
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