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TMI Blog2020 (12) TMI 496X X X X Extracts X X X X X X X X Extracts X X X X ..... favour of the assessee, it will only go to enhance the losses to be carried forward and consequently the income of the assessee will reduce to nil. Once assessee s income is liable for deduction u/s.10A for which assessee is otherwise eligible and also has made due compliance by filing Form No.56F and relevant audit report. If that is so, then claim of deduction u/s.10A is to be allowed and we do not find any legal infirmity in the order of the Ld. CIT (A) in allowing the deduction u/s.10A in the light of Form No.56F. In that case, the assessment made by the Assessing Officer will be subjected to 100% deduction u/s.10A and the assessed income would be Nil - Decided against revenue. - ITA No.1118/DEL/2012 (Assessment Year: 2007-08) - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Ld. CIT (Appeals) being erroneous in law and on facts deserves to be set aside/cancelled and the order of the Assessing Officer (AO) be restored. 2. The facts in brief are that the assessee-company is engaged in the business of IT enabled services wherein the assessee provides its client with, in-bound and out-bound tele services, market research, web-based communication and complete BPO Solution. The assessee had shown gross receipt of ₹ 31,50,83,000/- which included income from export services of ₹ 31,32,67,000/-. The Assessing Officer noted that assessee has set off income of ₹ 3,13,24,937/- against the brought forward losses of earlier years. However, he observed that in the preceding year, the loss of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee to file Form No.56F for the claim of deduction u/s.10A. Ld. CIT (A) allowed the deduction claim u/s.10A holding that in view of the judgment of Hon ble Jurisdictional High Court in the following cases:- CIT vs. Axis Computer India Pvt. Ltd., 178 Taxman 143, (Del); and CIT vs. Mantec Consultants Pvt. Ltd., 178 Taxman 429, (Del)., wherein it has been held that even if the assessee fails to claim deduction u/s.10A in the original return and files Form No.56F for the first time before the Ld. CIT(A) then also same can be considered. Accordingly, after taking consideration into Form No.56F, he allowed the claim of deduction u/s.10A. 4. Before us, at the outset, ld. counsel submitted that now the ITAT in the appeals for the Assessment Ye ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee will reduce to nil. But be as it may, once assessee s income is liable for deduction u/s.10A for which assessee is otherwise eligible and also has made due compliance by filing Form No.56F and relevant audit report. If that is so, then claim of deduction u/s.10A is to be allowed and we do not find any legal infirmity in the order of the Ld. CIT (A) in allowing the deduction u/s.10A in the light of Form No.56F. In that case, the assessment made by the Assessing Officer will be subjected to 100% deduction u/s.10A and the assessed income would be Nil . Accordingly, the order of the Ld. CIT (A) is affirmed and the grounds raised by the Revenue are dismissed. 7. In the result, the appeal of the Revenue is dismissed. Order pronounc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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