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Value Momentum Software Services ... vs Dcit, Circle-3(3), Hyderabad, ... on 30 November, 2016 cites

Wipro Ltd. vs Dy. Commissioner Of Income Tax on 21 June, 2005

In the case of Renaissance Jewellery (P) Ltd. (supra), the Tribunal, following the aforesaid decision in the case of Smt. Sujata Grover (supra) and the Tribunal decision in the case of Priyanka Gems vs. Asstt. CIT (2005) 94 TTJ (Ahd) 557, held that profit on account of foreign exchange gain is directly referable to the articles and things exported by the assessee and such profits are therefore in the same nature as the sale proceeds and there is no reason while deduction under s. 10A should not be allowed in respect of such exchange gain. It had also observed that there is no difference in the language of ss. 10A and 80HHC in regard to the treatment of foreign exchange gain.
Income Tax Appellate Tribunal - Bangalore Cites 96 - Cited by 14 - Full Document

Priyanka Gems vs Assistant Commissioner Of Income Tax ... on 22 December, 2004

In the case of Renaissance Jewellery (P) Ltd. (supra), the Tribunal, following the aforesaid decision in the case of Smt. Sujata Grover (supra) and the Tribunal decision in the case of Priyanka Gems vs. Asstt. CIT (2005) 94 TTJ (Ahd) 557, held that profit on account of foreign exchange gain is directly referable to the articles and things exported by the assessee and such profits are therefore in the same nature as the sale proceeds and there is no reason while deduction under s. 10A should not be allowed in respect of such exchange gain. It had also observed that there is no difference in the language of ss. 10A and 80HHC in regard to the treatment of foreign exchange gain.
Income Tax Appellate Tribunal - Ahmedabad Cites 11 - Cited by 6 - Full Document
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