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2018 (7) TMI 2322 - HC - Income TaxDeduction u/s 10A - Whether telecommunication charges and expenses incurred abroad are required to be reduced from the export turnover as well as total turnover also? - HELD THAT:- The controversy is no longer res integra and is covered by the decision of M/s.Tata Elxsi Ltd [2015 (10) TMI 634 - KARNATAKA HIGH COURT] which has been affirmed by the Hon’ble Supreme Court in the case of Commissioner of Income-tax, Central – III vs. HCL Technologies Ltd [2018 (5) TMI 357 - SUPREME COURT] when the object of the formula is to arrive at the profit from export business, expenses excluded from export turnover have to be excluded from total turnover also. Otherwise, any other interpretation makes the formula unworkable and absurd. Computation made by the Transfer Pricing Officer - The controversy involved herein is no more res integra in view of the decision of this Court in M/s Softbrands India Pvt. Ltd. [2018 (6) TMI 1327 - KARNATAKA HIGH COURT] wherein it has been observed that unless the finding of the Tribunal is found ex facie perverse, the Appeal u/s. 260-A of the Act, is not maintainable
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