9911796707
TMI Blog2019 (9) TMI 155X X X X Extracts X X X X X X X X Extracts X X X X ..... ) is directed against the order dated 07.1.2009 made in ITA.No.2252/Mds/2007 on the file of the Income Tax Appellate Tribunal, Chennai 'B' Bench (for brevity, the Tribunal) for the assessment year 2000-01. 3. The appeal was admitted on 09.11.2009 on the following reframed substantial questions of law : "i. Whether, on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in law in holding that foreign exchange gains should form part of the profits for the purpose of deduction under Section 10A? ii. Whether, on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in law in holding that the income from training activity, sale of hardware and software and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome Tax (Appeals)-VI, Chennai- 34 [for brief, the CIT(A)] failed to examine the nexus for the expenses incurred for export turnover. 6. We have carefully gone through the order passed by the CIT(A) as well as that of the Tribunal and we find that nowhere the Revenue raised such a contention either before the CIT(A) or before the Tribunal. 7. Ms.Sree Lakshmi Valli, learned counsel for the respondent - assessee has produced before us a copy of the Fifth Annual Report 1999- 2000 and pointed out that the earnings in foreign currency were only from software development services and products other than exports and that there was no other source of earnings. 8. In the light of the fact that the Revenue did not canvass this issue either before ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g on or after the 1st day of April, 1995, its exports of such articles or things are not less than seventy-five per cent of the total sales thereof during the previous year." 11. We have perused the order passed by the Tribunal and we find that there is inconsistency in the order in the sense that the Tribunal, in paragraph 4 of the order, considered the issue relating to net income from training activity, which was held to be part and parcel of the assessee's income entitled to exemption under Section 10A of the Act. The Tribunal, after taking note of its decision in the assessee's group companies' case in ITA.Nos.338/Mds/2001 and 594/Mds/2002 dated 17.2.2006, remanded the matter back to the file of the Assessing Officer for deciding the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r for verification and for a fresh consideration, we give liberty to the assessee to raise this contention before the Assessing Officer during the course of hearing on such remand. Therefore, the second substantial question of law is answered accordingly. 15. With regard to the third substantial question of law, Mrs.R.Hemalatha, learned Senior Standing Counsel would contend that the Tribunal, in paragraph 9 of the order, did not render any finding as to why the Revenue's appeal does not merit consideration and that it had rejected the Revenue's appeal virtually by a single line order. The Tribunal stated that on going through the detailed order passed by the CIT(A) on the point relating to the deletion of disallowance of depreciation amoun ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
