Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (1) TMI 1348 - AT - Income TaxEligibility for deduction u/s.10A/10B on interest income - income derived from export of ITES services - Held that:- Interest income earned by the assessee has a direct nexus and was derived from the assessee’s business and was, therefore, entitled to be considered for deduction u/s.10A of the Act. Following the aforesaid decision of the Co-ordinate Bench in the case of M/s. Syntel Limit (2015 (9) TMI 897 - ITAT MUMBAI), we uphold the impugned order of the Ld. CIT(A) in directing the Assessing Officer to consider the interest income earned by the assessee in the relevant period as having a direct nexus with and being derived from its ITES business and, therefore, to include it while computing the eligible deduction u/s.10A - Decided against revenue
|