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2014 (11) TMI 347 - ITAT MUMBAIComputation of amount of deduction u/s 10A - Setting off of unabsorbed depreciation – Held that:- In M/s. Himatsingka Seide Ltd. Versus Commissioner of Income Tax [2013 (10) TMI 823 - SUPREME COURT] it has been held that the unabsorbed depreciation should be taken into consideration while computing the deduction u/s 10B of the Act - the unabsorbed business loss has to be deducted only from the profit available after allowing deduction u/s 10A of the Act – the order of the CIT(A) is modified. Exclusion of Travelling expenses and Software development charges incurred in foreign currency from the amount of “Export Turnover” – Held that:- In CIT Vs. Gem Plus Jewellery India Ltd [2010 (6) TMI 65 - BOMBAY HIGH COURT] it has been held that the items excluded from the Export turnover are required from the total turnover also - the amount of travelling expenses and Software development charges incurred in foreign currency is required to be excluded both from Export turnover and Total turnover for the purpose of computing deduction u/s 10A of the Ac - Decided in favour of revenue..
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