Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (9) TMI 1434 - AT - Income TaxDeduction u/s. 10A - exclude telecommunication charges and travel expenses incurred in foreign currency from the total turnover - Held that:- Hon'ble jurisdictional High Court in the case of CIT v. Tata Elxsi Ltd.(2011 (8) TMI 782 - KARNATAKA HIGH COURT) wherein it was held that whatever is excluded from the export turnover, has also to be excluded from the total turnover. Grievance of the Revenue that the decision of HC has not been accepted by the revenue and an appeal by the revenue has been filed before the Hon'ble Supreme Court is of no relevance as law declared by the Hon'ble High Court of Karnataka which is the jurisdictional High Court is binding on us. Transfer pricing addition - comparable selection criteria - functional similarity - Held that:- The assessee company is engaged in the business of development of software and provides sales & marketing support thus companies functionally dissimilar with that of assessee need to be deselected from final list.
|