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TMI Blog2019 (9) TMI 1261X X X X Extracts X X X X X X X X Extracts X X X X ..... e Court in the case of CIT vs HCL Technologies Ltd in Civil [ 2018 (5) TMI 357 - SUPREME COURT] had held that items that were excluded from export turnover should also be excluded from total turnover. In view of this decision, we find no infirmity in the order of the ld CITA in this regard. Accordingly, the Ground No.1 raised by the revenue is dismissed. Carry forward of losses without setting it off against the income eligible for deduction u/s 10AA - HELD THAT:- High Court in the case of CIT vs Black Veatch Consulting P Ltd [ 2012 (4) TMI 450 - BOMBAY HIGH COURT] wherein it was held that section 10A is a deduction provision and not an exemption provision ; that section 10A benefit has to be given effect to at the stage of computi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eferred to as Act) dated 04/02/2014 by the ld. Income Tax Officer-8(2)(4), Mumbai (hereinafter referred to as ld. AO). 2. None appeared on behalf of the assessee. Since the issue involved in revenue s appeal is already covered, we proceed to dispose off the appeal after hearing the ld DR and based on materials available on record. 3. The first issue to be decided in this appeal is as to whether the ld CITA was justified in directing the ld AO to exclude ₹ 1.38 crores comprising of foreign travel expenses, professional consultancy services, US office support services and other expenses from the total turnover for the purpose of computation of deduction u/s 10AA of the Act. 4. We have heard ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TR 719 (SC) had held that items that were excluded from export turnover should also be excluded from total turnover. In view of this decision, we find no infirmity in the order of the ld CITA in this regard. Accordingly, the Ground No.1 raised by the revenue is dismissed. 5. The next ground to be decided in this appeal is as to whether the ld CITA was justified in directing the ld AO to allow the carry forward of losses without setting it off against the income eligible for deduction u/s 10AA of the Act. 6. We have heard the ld DR. We find that the ld CITA had placed reliance on the order passed by his predecessor for Asst Year 2010-11 in assessee s own case in Appeal No. CIT(A)-17/IT-157/13-14 dated 9.5.2014 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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