Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (11) TMI 144 - ITAT CHENNAIDeduction u/s 10B – Internet Charges – Held that:- Following ITO v. Sak Soft Ltd.[ 2009 (3) TMI 243 - ITAT MADRAS-D] – If expenses incurred to provide technical services outside are excluded from export turnover then such expenses should also be excluded from the total turnover for computing income u/s 10B – Following the principle of parity between the export turnover and total turnover laid down in CIT v. Lakshmi Machine Works [2007 (4) TMI 202 - SUPREME Court]. Setting-off of brought forward losses – Held that:- When two different views of the different jurisdictional High Courts are available, the decision favourable to the assessee is to be followed - Following Yokogawa India Ltd. [2011 (8) TMI 845 - Karnataka High Court] - As the relief under section 10A is in the nature of exemption although termed as deduction and the said relief is in respect of commercial profits, such income is neither subject to charge of income tax nor includible in the total income - The relief under section 10A will have to be given before Chapter IV – Decided against Revenue.
|