The Tax Publishers2020 TaxPub(DT) 3380 (Bang-Trib)

INCOME TAX ACT, 1951

Section 10AA

Telecommunication expenses excluded from export turnover, were to be excluded from total turnover as well so as to compute exemption under section 10AA.

Deduction under section 10AA - Computation of total turnover - Treatment of expenses excluded from export turnover -

Assessee claimed deduction under section 10AA. AO re-computed amount deductible after excluding telecommunication expenses from export turnover, however, without reducing the same from total turnover. Held: Telecommunication expenses excluded from export turnover, were to be excluded from total turnover as well so as to compute exemption under section 10AA.

Followed:CIT v. Tata Elxsi Ltd (2012) 349 ITR 98 (Karn) : 2011 TaxPub(DT) 1960 (Karn-HC) and CIT v. HCL Technologies Ltd. in Civil Appeal No.8489- 98490 of 2013 & Ors. dated 24-4-2018 : 2018 TaxPub(DT) 2138 (SC).

REFERRED :

FAVOUR : In assessee's favour.

A.Y. : 2013-14

INCOME TAX ACTM, 1961

Section 10AA

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