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TMI Blog2020 (12) TMI 52X X X X Extracts X X X X X X X X Extracts X X X X ..... st substantial question of law is answered against the revenue and in favour of the assessee. Set of losses of 10A unit and non 10A units - HELD THAT:- Second substantial question of law is also answered in favour of the assessee by the decision of Hon ble Supreme Court in CIT vs. Yokogawa India Ltd. [ 2016 (12) TMI 881 - SUPREME COURT] . The aforesaid fact could not be rebutted by the learned counsel for the revenue. In view of the decision of the Hon ble Supreme Court in the Yokogawa India Ltd. (supra), the second substantial question of law framed by a bench of this Court is also answered against the revenue and in favour of the assessee. Disallowance u/s 14A - whether no expenses under section 14A of the Act could be attribu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er dated 02.11.2017 on the following substantial questions of law: 1. Whether on the facts and in the circumstances on the case, the Tribunal is right in law in setting aside the computation of section 10A deduction made by assessing authority without appreciating that judgment of this Hon ble Court in CIT V/s Tata Elxsi has not reached finality and moreover section 10A does not permit the assessee to reduce expenses incurred in foreign currency from both from export and total turnover? 2. Whether on the facts and in the circumstances on the case, the Tribunal is right in law in setting aside the findings of assessing officer with regard to set of losses of 10A unit sand non 10A units by placing reliance on the decision of this Ho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has been filed. 3. When the matter was taken up today, learned counsel for the assessee submitted that the first substantial question of law, which has been framed by this Court has already been answered by the Hon ble Supreme Court in COMMISSIONER OF INCOME TAX CENTRAL-III NEW DELHI VS. HCL TECHNOLOGIES LTD. , 2018 404 ITR 719. The aforesaid legal position could not be disputed by learned counsel for the revenue. In view of aforesaid enunciation of law by the Hon ble Supreme Court, first substantial question of law is answered against the revenue and in favour of the assessee. 4. It is further submitted by learned counsel for the assessee that second substantial question of law is also answered in favour of the assessee by the d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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