Home Highlights July 2013 Year 2013 This

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1. Deduction u/s 10A - foreign exchange gain - the gain on receipts of foreign exchange as export proceeds are extricably linked, eligible for exemption u/s 10A - AT

2. Deduction u/s. 10A - export sales - non-receipt in convertible foreign exchange - Even for the sake of discussion, the plea of the assessee of converting the outstanding...

3. Export turnover brought into India does not qualify as 75% of total turnover for claiming exemption u/s 10A. Expenditure incurred in foreign exchange must be excluded...

4. Exemption u/s 10A - t the foreign exchange gain on packing credit foreign currency loan is not eligible for deduction under section 10A - AT

5. Rate of exchange of one unit of foreign currency equivalent to Indian rupees - Notification

6. TP Adjustment - Reduction of economic adjustment on foreign exchange fluctuation loss - in principle, the foreign exchange fluctuation loss adjustment has to be given...

7. Foreign Exchange Management (Nondebt Instruments) (Second Amendment) Rules, 2020 - Notification

8. Definitions - Regulation 2 of the FOREIGN EXCHANGE MANAGEMENT (FOREIGN EXCHANGE DERIVATIVE CONTRACTS) REGULATIONS, 2000 as amended

9. TP Adjustment - When foreign exchange loss is to form part of the total base of the taxpayer for the purpose of charging a mark up to its AEs as it drives income from...

10. Adjustment towards foreign exchange fluctuation - non-consideration of impact of abnormal movement in the foreign exchange rates while computing the operating profit...

11. Deduction u/s 10AA - exclusion from export turnover on account of sales to other SEZ/EOU units - it is an undisputed fact that the sale consideration is released in...

12. Deduction u/s 10A - unit formed out of splitting up or reconstruction of the business by using the old plant and machinery - the benefit of Section 10A of the Act would...

13. TPA - income of section 10A unit has to be excluded at source itself before arriving at the gross total income, hence, question of setting off of loss against such...

14. TP adjustment - Direction in remand proceeding - Customs Duty Adjustment, Air Freight Adjustment and Foreign Exchange Adjustment - If the Tribunal has fixed how such...

15. Allocation of common expenses between STPI and non-STPI units - The foreign exchange fluctuation can be linked to specific items and how it is not understandable as to...