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TMI Blog2014 (1) TMI 1445X X X X Extracts X X X X X X X X Extracts X X X X ..... admitted even at the second appellate stage are of a nature and quantitatively such that they render assistance to the Tribunal in passing orders or are required to be admitted for any 'other substantial cause', it would rather be the duty of the Tribunal to admit them - if the receipt or admission of additional evidence is vital and essential for the purpose of consideration of the subject matter of appeal and to arrive at a final and ultimate decision, the Tribunal is amply empowered to admit additional evidence under Rule 29 - The TPO had no occasion to consider the new fact which goes to the root of the matter – the matter remitted back to the AO for fresh adjudication. Exemption u/s 10A of the Act – Adjustment on exempted income all ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at Rs.14% p.a. on monthly closing balances and the TPO arrived at Rs.69.71 lakhs (on Rs.4,97,97,000 @ 14% ). The Assessing Officer forwarded a draft assessment order to the tax payer. The tax payer had approached the Dispute Resolution Panel (in short "DRP"), Hyderabad vide Form No. 35A, filed on 4.2.2010. In response to the reference, The DRP issued a notice of opportunity and an opportunity to represent was given to the tax payer, the Assessing Officer and the TPO. The case was posted for hearing on 22.9.2010. However, on the request of the A.R. of the assessee the case was preponed and was heard on 20.09.2010 and was heard. The tax payer contended that since the loan has been converted into equity in February, 2006, the interest cannot b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... held as follows : "It was that the assessee as a matter of right could not file or filed them before the Tribunal as a matter of course. If the assessee produces some documents at the appropriate time, they have to be taken into consideration subject of course to all just exceptions, such as their relevance, etc., If not done at the assessment stage, the admission of documents has to be governed by Rule 46A of the I.T. Rules, 1962, if produced for the first time before the first appellate authority. Having missed the bus and the matter having travelled to the Tribunal, the admission of documents is to be governed by Rule 29 of the Appellate Tribunal Rules. Hence, if the documents sought to be admitted even at the second appellate stage ar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. 2 and 3 are covered by decision of the Coordinate Bench of the Tribunal in the case of DCIT vs. Planet Online Private Limited in their order dated 29-8-2008 passed in ITA No.1016/Hyd/2007 for the assessment year 2004-05. What was to be excluded in terms of S.10A is 'expenses if any, incurred in foreign exchange in providing the technical services outside India'. Contention of the assessee, right from the beginning, has been that the assessee company's directors or employees visit customers abroad, to study the systems and understand their requirements, and it is only after such a study, software development is undertaken in India and software is exported. It was also the contention of the assessee that the assessee company does not provi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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