2014 (7) TMI 1275 - HC - Income Tax

Deduction u/s 10B - Exclude the freight charges both from Export turnover and Total Turnover, though such an adjustment to the total turnover - Held that - It appears, the learned Tribunal has followed the decision of the Special Bench in the case of Saksoft Ltd. 2016 (10) TMI 539 - ITAT CHENNAI on identical issue and the issue was decided in favour of the assessee. It does not appear that the aforesaid decision of the learned Tribunal has been reversed or questioned before any forum. Hence, we think that the learned Tribunal has correctly applied the law following the rule of consistency.

Summary

The High Court of Andhra Pradesh upheld the Tribunal's decision to exclude freight charges from Export turnover and Total Turnover for assessment year 2008-09. The Tribunal's decision was based on the rule of consistency and not reversed or questioned. The appeal was dismissed.