expenditure has to be excluded.
Export Turnover and Total turnover:
The “total turnover” has been defined in sections 80HHC and
80HHE only to exclude additional ... turnover”.
Export turnover is a component of total turnover. If the
entire turnover represents export proceeds, then the export
turnover and the total turnover
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 ... 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
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 ... export turnover is a part of the
total turnover. The export turnover, in the numerator must have the same meaning as the
export turnover which
Section 4 liable to pay tax on his taxable turnover. The expression
‘turnover’ is defined in Section 2(36) thus:
“2(36). ‘Turnover’ means ... taxable turnover is computed after making such deductions from the total
turnover and in such manner as may be prescribed (‘total turnover’ is defined
turnover'
must also be excluded from 'total turnover', since one of the
components of 'total turnover' is export turnover ... deduction under
Section10A of the Act would be as follows:
Export turnover as defined in
Explanation 2(iv) to section
Export Profit = total Profit
total turnover. The submission of the Revenue, however, misses
the point that the expression "total turnover" has not been defined ... defined. The
definition of "export turnover" excludes freight and insurance. Since export turnover has been
defined by Parliament and there is a specific
turnover is a part of the total turnover. [Para 5]
The export turnover in the numerator must have the same meaning as the
export turnover ... defined. The definition of
'export turnover' excludes freight and insurance. Since export turnover has
been defined by the Parliament and there
every dealer to pay tax on his taxable turnover.
The expression ‘taxable turnover’ is defined in Section 2(34) which reads thus :
“(34) ‘Taxable turnover ... total turnover as prescribed.
The concept of taxable turnover thus incorporates the expressions ‘turnover’ and
‘total turnover’, both of which are defined in Sections
deduction under
Section10A of the Act would be as follows:
Export turnover as defined in Explanation 2
(IV) of Section 10A of IT Act
Export ... Profit = total Profit _____________________________________
of the Business X Export turnover as defined in Explanation
2(IV) of Section 10A of the IT Act + domestic
sale proceeds
shall not be excluded
from Export Turnover especially when such expenditure cannot
be part of the export turnover defined in clause [iv] of
Explanation ... months in 1 case related to Unit - 3 from the export turnover. The AO,
therefore, excluded from the export turnover while computing
deduction
