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2021 (11) TMI 536 - KARNATAKA HIGH COURTCharacterization of receipts - income from other sources as against claim of assessee treating the same as export turnover - HELD THAT:- Substantial question of law No.1 is directly covered by the decision of the Coordinate bench of this Court in Principal Commissioner of Income Tax and another vs. M/s. Tata Elxsi Ltd. [2020 (3) TMI 1082 - KARNATAKA HIGH COURT] arising out of the common order passed by the Tribunal. This Court has dismissed the appeal filed by the Revenue placing reliance on the ruling of the full bench of this Court in the case of CIT vs. M/s. Hewlett Packard Global Soft Ltd., [2017 (11) TMI 205 - KARNATAKA HIGH COURT] observing that the order of the Tribunal does not suffer from any perversity and infirmity, as such no substantial question of law arises for consideration in the appeal. Deduction u/s 10A - HELD THAT:- As perused the judgment of the Coordinate bench of this Court in Wipro Ltd., supra, wherein their lordships have categorically observed that after the period of six months, if foreign exchange remittances are received and credited to the assessee’s account through the Reserve Bank of India and in this context, merely because the written approval of extension was not passed by the Reserve Bank of India, the assessee could not be denied benefit of Section 10A. This finding of the Co-ordinate Bench decision would certainly assist the assessee. The Tribunal has rightly dismissed the appeal of the Revenue placing reliance on this judgment. The arguments of the learned counsel for the Revenue inasmuch as no evidence is unsustainable. We do not find any infirmity or perversity in the order impugned herein. Hence, we answer substantial question of law No.2 in favour of the assessee
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