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2015 (2) TMI 247 - AT - Income TaxFormula for computation of the deduction under Section 10-A - if once the expenditure is excluded from export turnover, it is to be excluded from total turnover as well - Held that:- Parity of constituents between the export turnover and total turnover needs to be maintained while computing deduction u/s 10A of the Act. Also considering case of Gem Plus Jewellery (2010 (6) TMI 65 - BOMBAY HIGH COURT ), we direct the A.O. to exclude amounts from total turn over which are excluded from the export turnover to maintain the parity. - Decided in favour of assessee. Non-granting of TDS and advance tax and levy of adjusting interest under 244A of the Act - Held that:- As seen from the Form 26AS as well as the claims made by assessee in the return of income, assessee did claim TDS of ₹ 8,65,898 and advance tax of ₹ 1,89,00,000 totaling to ₹ 1,97,65,898. However, A.O. allowed amount of ₹ 1,73,51,992. Since the claim of assessee was also supported by Form 26AS maintained by department, we direct the A.O. to give credit accordingly and re-workout the tax computations.- Decided in favour of assessee. Interest adjustment under section 244A of the Act - Held that:- contention of assessee that no such interest was granted to assessee and therefore, adjustment of the same is not correct. This requires detailed verification by A.O. As no discussion was made in the order, we are unable to examine the contentions. We deem it fit to restore the issue to the file of A.O. to verify and give opportunity to assessee to explain, before adjusting any interest if any granted to assessee earlier. - Decided in favour of assessee for statistical purposes.
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