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TMI Blog2018 (4) TMI 94X X X X Extracts X X X X X X X X Extracts X X X X ..... eneficial section. It is intended to provide incentives to promote exports. If the export turnover in the numerator is to be arrived at after excluding certain expenses, the same should also be excluded in computing the export turnover as a component of total turnover in the denominator. The reason being the total turnover includes export turnover. The components of the export turnover in the numerator and the denominator cannot be different. - Decided against revenue - Income Tax Appeal No. 598 of 2017 - - - Dated:- 7-3-2018 - MR. DINESH MAHESHWARI, AND MR.S. SUNIL DUTT YADAY JJ. Appellants (By Sri. K.V. Aravind, advocate) respondent (by Sri. Sandeep Huilgol, Advocate) JUDGEMENT The learned counsel Mr. Sandeep Huilg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issues but the issue relating to the relief under Section 10-A of the Act, though raised, was left out of consideration. Later on, the Tribunal granted the petition for rectification filed by the assessee [M.P. No.28/Bang/2017]; and held in the impugned order dated 15.03.2017 that the issue was covered by the decision of this Court in the case of COMMISSIONER OF INCOME TAX v. TATA ELXSI LTD.: [2012] 349 ITR 98 and thus, directed the Assessing Officer to reduce the expenditure incurred in foreign currency from both export turnover and total turnover for the purpose of computing the deduction under Section 10-A of the Act. Seeking to assail the order so passed by the Tribunal, it is sought to be argued on behalf of the Revenue that the Tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m part of the denominator. Though when a particular word is not defined by the legislature and an ordinary meaning is to be attributed to the same, the said ordinary meaning to be attributed to such word is to be in conformity with the context in which it is used. When the statute prescribes a formula and in the said formula, export turnover is defined, and when the total turnover includes export turnover, the very same meaning given to the export turnover by the legislature is to be adopted while understanding the meaning of the total turnover, when the total turnover includes export turnover. If what is excluded in computing the export turnover is included while arriving at the total turnover, when the export turnover is a compo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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