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TMI Blog2016 (3) TMI 1270X X X X Extracts X X X X X X X X Extracts X X X X ..... ent services. The return of income for the AY. 2007-08 was selected for scrutiny assessment and the AO has referred the international transactions with AE reported by assessee for the said assessment year to the TPO to determine the Arm's Length Price (ALP). The AO reduced the leased line charges of Rs. 25,76,545/- and travelling expense in foreign currency of Rs. 1,02,30,194/- from the 'export turnover' but not from the 'total turnover', which resulted in reduction of claim u/s. 10A of the Act to the tune of Rs. 17,41,860/-. Thereafter, the AO denied the entire deduction u/s. 10A of the Act on the ground that assessee did not furnish the Foreign Inward Remittance Certificate copies (FIRC) to substantiate the fact that export proceeds were ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d with a delay of 335 days with a petition for condonation of delay. It was submitted that assesseecompany ceased its operations in the year 2009 and appointed authorized person to represent the company. The appointed AR suddenly withdrew the representation and the AO was informed accordingly. The company came to know about these facts after TRO started recovery proceedings on erstwhile directors and then company took steps to appoint a new AR, obtain copies of orders from the AO and prepared present appeal. It was submitted that the proceedings took considerable time and company has taken steps immediately on coming to know of orders. It was also submitted that in the later years orders were passed ex-parte and Ld.CIT(A) has condoned the d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee has shown invoice value to the extent of Rs. 17,11,75,098/- as against Rs. 17,33,92,390/- and balance was reconciled. Be that as it may, now assessee undertakes to produce the copies of invoices to the AO. Therefore, without going into the merits of action of AO, we direct the AO to examine the same and allow the claim. The issue of claim of 10A is accordingly set aside to the AO for that limited purpose. Ground is accordingly allowed for statistical purposes. 5. Ground No. 3 is also on the issue of claim of deduction u/s. 10A. AO excluded leased line charges of Rs. 25,76,545/- and travelling expenses of Rs. 1,02,30,194/- respectively from the export turnover but has not reduced from the total turnover. DRP did not however, grant rel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gies Ltd 131.49 40.30 11. Ishir Infotech Ltd 7.42 30.12 12. KALS Information Systems Ltd (Seg) 2.00 30.55 13. LGS global Ltd (Lanco global Solutions Ltd) 45.39 15.75 14. Lucid Software Ltd 1.70 19.37 15. Mediasoft Solutions Ltd 1.85 3.66 16. Megasoft Ltd., 139.33 60.23 17. Mindtree Ltd., 590.35 16.90 18. Persistent Systems Ltd., 293.75 24.52 19. Quntegra Solutions Ltd., 62.72 12.56 20. RS Software (Ind.) Ltd., 101.04 13.47 21. R Systems International Ltd (Seg) 112.01 15.07 22. Sasken Communication Tech. Ltd (Seg) 343.57 22.16 23. SIP Tech. & Exports Ltd., 3.80 1.99 24. Tata Elxsi Ltd (Seg) 262.58 26.51 25. Thirdware Solutions Ltd., 36.08 25.12 26. Wipro Ltd., (Seg) 9616.09 3. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ief reasons stated against the company: 1. Accel Transmatics Ltd (Seg) Functionally different. product/design company. 2. Avani Cimcon Technologies Ltd., Functionally different.. Product based company. 3. Celestial Labs Ltd., Functional dissimilarity. product based company. 4. E-Zest Solutions Ltd., Functional dissimilarity. product development service company. 5. Helios & Matheson Information Technology Ltd., Functional dissimilarity. engaged in sale of software. 6. Infosys Technologies Limited Functional dissimilarity. High turnover. High end products, brand name etc., 7. Ishir Infotech Pvt Ltd., Functional dissimilarity. Product company. 8. Kals Information Systems Ltd., Functional dissimilarity. development of so ..... X X X X Extracts X X X X X X X X Extracts X X X X
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