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TMI Blog2017 (1) TMI 1299X X X X Extracts X X X X X X X X Extracts X X X X ..... oceeds, which was not realized from the total turnover - Held that:- As in Galaxy Granites (P.) Ltd. v. CIT [2012 (9) TMI 68 - MADRAS HIGH COURT ] while considering the claim under Section 80HHC of the Act, found that unrealized sale proceeds should be included in total turnover for the purpose of computing allowable deduction under Section 80HHC of the Act. The assessee now claims before this Tri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xy Granites (P.) Ltd. (supra) and thereafter decide the issue, in accordance with law, after giving an opportunity to the assessee. - ITA No. 13/Mds/2013 - - - Dated:- 4-10-2016 - Shri N.R.S. Ganesan, Judicial Member And Shri S. Jayaraman, Accountant Member Appellant by : Shri Vijay Kumar Punna for Dr. Anita Sumanth, Advocate Respondent by : Shri Anurag Sahay, CIT ORDER Per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... only for the purpose of adjudicating ground No.3. 4. Ground No.3, according to the Ld. counsel, is with regard to deduction under Section 10A of the Act. According to the Ld. counsel, the sale proceeds were subsequently brought to India within the extended time granted by competent authority. Therefore, in view of judgment of Madras High Court in Galaxy Granites (P.) Ltd. v. CIT (2012) 27 taxma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s on either side and perused the relevant material available on record. The Madras High Court, while considering the claim under Section 80HHC of the Act, found that unrealized sale proceeds should be included in total turnover for the purpose of computing allowable deduction under Section 80HHC of the Act. The assessee now claims before this Tribunal that on the basis of very same analogy, for th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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