As regards deduction is to be allowed before allowing set off of looses of earlier years, High Court dismissed the appeal of the revenue following the decision in CIT v Yokogawa India Ltd. (2012) 349 ITR 98 (SC). As regards Expenses reduced from export turn over has to be reduced from total turnover. High Court followed the judgement in CIT v. Tata Elxsi Ltd. (2012) 349 ITR 98 (Karn.)(HC). (AY. 2005-06)
PCIT v. Infosys BPO Ltd. (2019) 107 taxmann.com 56 / 264 Taxman 290 (Karn.)(HC) Editorial : SLP of revenue is dismissed, PCIT v. Infosys BPO Ltd. (2019) 264 Taxman 289 (SC)
S. 10A : Free trade zone–Deduction is to be allowed before allowing set off of looses of earlier years–Expenses reduced from export turn over has to be reduced from total turn over.