Held that Foreign exchange gain excluded from export turnover should also be excluded from total turnover for computing deduction. Penalty on receivables from vendor for delay delivery, service tax liability written back, sale of scrap, etc. matter was to be remanded back to Assessing Officer for due verification of evidences. (AY. 2011-12)
Safran Engineering Services India (P.) Ltd. v. ACIT (2021) 191 ITD 293 (Bang.)(Trib.)
S. 10A : Free trade zone-Foreign exchange gain-Excluded from export turnover should also be excluded from total turnover-Auxiliary services, claim-Penalty receivable from vendor for delay delivery, service tax liability written back, sale of scrap-Eligible deduction-Matter remanded for verification.