Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2015 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (12) TMI 566 - HC - Income TaxDisallowance u/s 40(a) (ia) - as per revenue benefit of deduction under Section 10A cannot be extended to such income, which is a result of disallowance - whether disallowance of expenditure under Section 43B of the Act was added to the income of the Assessee therein but deduction under Section 10A of the Act was sought to be denied to the extent of disallowed expenditure? - Held that:- The plain consequence of disallowance of the expenditure would be to add back the disallowed expenditure to the Respondent-Assessee's income. The entire income of the Respondent-Assessee is attributable to the activity of export of computer softwares and is entitled to deduction under Section 10A of the Act. In the circumstances, the disallowed expenditure, becomes a part of the income derived from the activity of export of software and entitled to the deduction under Section 10A of the Act. In these circumstances, as the issue stands concluded by the decision of this Court in the case of Gem Plus Jewellery India Ltd. (2010 (6) TMI 65 - BOMBAY HIGH COURT) against the Revenue and in favour of the Respondent Assessee.
|