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2016 (9) TMI 1309 - AT - Income TaxTPA - selection of comparable - Held that:- Assessee company is engaged in the business of export and sale of developed software thus companies with dissimilar activities with that of assessee need to deleted from final list of comparable. Deduction u/s 10A - Held that:- Exclusion of telecommunication charges and other expenditure both from the export turnover as well as from the total turnover in accordance with the decision of the Special Bench of the Tribunal at Chennai in the case of Income Tax Officer vs. SAK Soft Ltd (2009 (3) TMI 243 - ITAT MADRAS-D). We find that this issue is also covered by the decision of the Hon'ble Karnataka High Court in the case of Tata Elxsi Ltd. (2011 (8) TMI 782 - KARNATAKA HIGH COURT) and therefore, we see no reason to interfere with the same. The Revenue’s Ground of appeal No.2 is therefore, rejected. Expenditure incurred towards employees stock (ESOPs) - Held that: -We find that this issue is also covered by the decision of the Special Bench of the Tribunal at Bangalore in the case of Biocon Ltd (2013 (8) TMI 629 - ITAT BANGALORE) which has been taken note of by the DRP in directing the AO to allow the same as revenue expenditure.
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