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2018 (5) TMI 1879 - AT - Income TaxComputation of deduction u/s.10AA - deduction by reducing exclusions in the export turnover, from the total turnover - HELD THAT:- Hon’ble Supreme Court’s decision in the case of HCL Technologies Ltd. & Ors. [2018 (5) TMI 357 - SUPREME COURT] wherein it is held that “the expenses excluded from export turnover have to be excluded from the total turnover also. Otherwise, any other interpretation makes the formula unworkable and absurd.” In view of that the corresponding grounds of the Revenue’s appeal are dismissed. Disallowance made with regard to the surcharge and the education cess for the purpose of MAT credit - CIT(A) allowing the surcharge and cess also for the purpose of MAT credit - HELD THAT:- Hon’ble Supreme Court in the case of CIT vs. K.Srinivasan [1971 (11) TMI 2 - SUPREME COURT] held that the legislative history of the Finance Acts, as also the practice indicates that the term “income-tax” as employed in s. 2 includes surcharge as also the special and the additional surcharge whenever provided which are also surcharges within the meaning of Art.271 of the constitution - appeal filed by the Revenue is dismissed.
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