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TMI Blog2018 (6) TMI 1516X X X X Extracts X X X X X X X X Extracts X X X X ..... affirmed by Income-tax, Central – III vs. HCL Technologies Ltd., [2018 (5) TMI 357 - SUPREME COURT]. - I.T.A.No.348/2017 - - - Dated:- 21-6-2018 - DR. VINEET KOTHARI AND MRS. S. SUJATHA, J.J. SRI ARAVIND K.V., ADV.- For the Appellant SRI NARENDRA KUMAR J. JAIN, ADV.- For the Respondent JUDGMENT Learned Counsel for the Revenue submits that the issue involved in this Appeal is covered by the decisions of this Court in M/s. Tata Elxsi Ltd., vs. Asst. Commissioner of Income Tax , decided on 20.10.2015 since reported in (2015) 127 DTR 0327 (Kar) and Commissioner of Income-tax, Central III vs. HCL Technologies Ltd., [2018] 93 Taxmann.com 33(SC). 2. The relevant portion of the judgment of the Division Bench in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se Clause 6.19 specifically provides for export through Status Holder. It provides that an EOU/EHTP/STP/BTP unit may export goods manufactured/software developed by it through other exporter or Status holder recognized under this policy or any other EOU/EHTP/STP/BTP unit. What follows from this provision is that to be eligible for exemption from payment of income tax, export should earn foreign exchange. It does not mean that the undertaking should personally export goods manufactured / software developed by it outside the country. It may export out of India by itself or export out of India through any other STP Unit. Once the goods manufactured by the assessee is shown to have been exported out of India either by the assessee or by anoth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ving the answer to the issue, the High Court, inter-alia, held that when a particular word is not defined by the legislature and an ordinary meaning is to be attributed to it, the said ordinary meaning is to be in conformity with the context in which it is used. Hence, what is excluded from export turnover must also be excluded from total turnover , since one of the components of total turnover is export turnover. Any other interpretation would run counter to the legislative intent and would be impermissible. 18. XXXXXX 19. In the instant case, if the deductions on freight, telecommunication and insurance attributable to the delivery of computer software under Section 10A of the IT Act are allowed only in Export Turnover but ..... X X X X Extracts X X X X X X X X Extracts X X X X
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