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TMI Blog2020 (9) TMI 969X X X X Extracts X X X X X X X X Extracts X X X X ..... X, CENTRAL-III Vs. HCL TECHNOLOGIES LTD. [ 2018 (5) TMI 357 - SUPREME COURT] . The aforesaid contention cannot be reputed by the learned counsel for the revenue. Therefore, the first substantial question of law is answered against the revenue and in favour of the assessee. Income received by the assessee by way of notice pay from its employees leaving the service contrary to agreement - whether to be included in export turnover when such income is not derived from the activity of export and recorded a perverse finding?. - HELD THAT:- Second substantial question of law is covered by a decision of the Supreme Court in COMMMISSIONER OF INCOME-TAX Vs. PUNJAB STAINLESS STEEL INDUSTRIES [ 2014 (5) TMI 238 - SUPREME COURT ] . Order p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch income is not derived from the activity of export and recorded a perverse finding?. 3. Facts giving rise to the filing of this appeal briefly stated are that the assessee had incurred telecommunication expenses and foreign currency expenses. The assessee computed the deduction under Section 10B of the Act without reducing the telecommunication charges and expenditure incurred in foreign exchange from export turnover. The Assessing Officer recomputed the same by excluding the above expenses from export turnover and the assessee received notice pay from the employees who were sent to foreign countries for sight completion of projects and who left their job on short notice by paying a sum to the assessee as per the agreement. The Asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s submitted that the income received by the assessee by way of notice pay from its employees leaving the service contrary to the agreement, cannot be part of total turnover as well as the export turnover and to the aforesaid extent, the order passed by the Tribunal be modified. The aforesaid contention is not disputed by the learned counsel for the assessee. 7. In view of the aforesaid submissions, the order dated 08.02.2013 passed by the Income Tax Appellate Tribunal is modified and it is directed that the income received by the assessee by way of notice pay from its employees leaving the service contrary to the agreement, can neither be included in the total turnover nor the same be included in the export turnover. Accordingly, the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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