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The Tax PublishersITA No. 363 of 2017
2019 TaxPub(DT) 7178 (Karn-HC) : (2019) 415 ITR 0380INCOME TAX ACT, 1961
Section 10A
Where revenue by way of substantial question of law challenged direction given by Tribunal to AO to recalculate deduction allowable to assessee under section 10A by reducing total turnover also by the same amount by which export turnover was reduced by AO in respect of foreign currency expenses incurred towards technical services rendered outside India, High Court gave answer in favour of assessee following its own decision in Tata Elxsi Ltd. v. Asstt. CIT (2015) 127 DTR 327 (Karn) : 2015 TaxPub(DT) 5191 (Karn-HC) decided on 20-10-2015, which had been affirmed by Supreme Court in CIT v. HCL Technologies Ltd. (2018) 404 ITR 719 (SC) : (2018) 93 Taxmann.com 33 (SC).
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Deduction under section 10A - Computation of total turnover - Treatment of account reduced from export turnover -
Tribunal directed AO to recalculate deduction allowable to assessee under section 10A by reducing total turnover also by the same amount by which export turnover was reduced by AO in respect of foreign currency expenses incurred towards technical services rendered outside India. Revenue challenged this by way of appeal before High Court.Held: Substantial question of law raised by the Revenue was covered in assessee's favour through decision in Tata Elxsi Ltd. v. Asstt. CIT (2015) 127 DTR 327 (Karn) : 2015 TaxPub(DT) 5191 (Karn-HC) decided in 20-10-2015, which had been affirmed by Supreme Court in CIT v. HCL Technologies Ltd. (2018) 404 ITR 719 (SC) : (2018) 93 Taxmann.com 33 (SC).
Followed:Tata Elxsi Limited, v. Asstt. CIT, Circle 12 (3) (2015) 127 DTR 327 (Karn) : 2015 TaxPub(DT) 5191 (Karn-HC).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2006-07
INCOME TAX ACT, 1961
Section 92C Section 260A
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