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2017 (3) TMI 1785 - AT - Income TaxDeduction u/s 10A - exclude the expenditure incurred in foreign currency from both export turnover as well as total turnover - HELD THAT:- Now the issue is covered against the revenue by the jurisdictional High Court in the case of Tata Elxsi [2011 (8) TMI 782 - KARNATAKA HIGH COURT] held that the same is required to be reduced from export turnover as well as total turnover. Respectfully following the ratio of the decision of the Hon'ble jurisdictional High Court we direct that expenses incurred in foreign exchange towards insurance, travelling and communication are to be reduced both from export turnover as well as total turnover. TP Adjustment - Comparable selection - HELD THAT:- Assessee is into software development services thus companies functionally dissimilar with that of assessee need to be deselected from final list.
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