DCIT v. K. K. Doshi and Co.

245 ITR 849High Court2000#5477 most cited

What is DCIT v. K. K. Doshi and Co. authority for?

Profits and losses arising from foreign exchange fluctuations are part of export turnover and are includible in profits eligible for deduction under Section 10A/10B of the Income Tax Act. Service charges may not be considered operational income if they don't accrue out of the main business activity.

21

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2016 to 2025.

Also referred to as

DCIT v. K. K. Doshi and Co. · 245 ITR 849 · Section 10A · Section 10B · foreign exchange fluctuation · export turnover · export profits · service charges · operational income

Sections most often in play

Section 10ASection 139(1)Section 143(3)Section 147Section 148Section 195Section 250Section 263

Issues it is cited on

convertible foreign exchangesection 80hheligible businesssection 80companysection 143(3)indiatotal incomebusinessinterest

Judgments citing DCIT v. K. K. Doshi and Co.

Addl CIT 8(3), Mumbai vs. Sulhur Mills Ltd, Mumbai

The appeal of the assessee stand partly allowed

ITA 8846/MUM/2010[2006-07]Status: DisposedITAT Mumbai01 Jan 2016AY 2006-07
For Appellant: Sh. K.S. Chokshi & Ms. M.R. Patel - ARsFor Respondent: Sh. Aarsi Prasad-DR
Section 10Section 10BSection 143(3)Section 254(1)Section 40

…,the FAA held that the interest on deposit with bank for opening LOC was not derived from industrial undertaking and was not eligible for deduction u/s.10B. He referred to the case of Menon Impex Pvt. Ltd. 259 ITR 403.He also referred to the case of KK Doshi (245 ITR 849);CJ International(13SOT 280);Orchid Chemicals and Pharmaceuticals (97 ITD 277),Sovika Infotech Ltd.(19SOT412) and held that to claim deduction u/s. 10B of the Act, the income should have been derived from the export activity of the undertaking, that the AO had rightly disallowed the claim made by the assessee. 5.2.During the course of hearing bef…