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2017 (3) TMI 1302 - AT - Income TaxTPA - selection of comparable - Held that:- Assessee is a part of Siemens Worldwide Group and engaged in the business of ITES services relating to back office operation on contract basis to its Associated Enterprises (AEs). Thus the assessee is a BPO and providing data services in respect of accounts and finance to its overseas group companies and companies having different business model of dissimilar functionality as that of assessee need to be excluded from final list of comparable. Exclusion of expenditure incurred in foreign currency from export turnover while computing deduction under Section 10A - Held that:- We direct the AO to exclude the above mentioned expenses both from the export turnover as well as from the total turnover while calculating deduction u/s 10A of the Act. SEE CIT v. Tata Elxsi Ltd. [2011 (8) TMI 782 - KARNATAKA HIGH COURT] Carry forward of losses of STPI unit denied before computing the deduction of the other STPI unit under Section 10A -Held that:- By following the decision in the case of Yokogawa India Ltd. (2011 (8) TMI 845 - Karnataka High Court) as well as the decision Mindteck India Ltd. ( 2015 (4) TMI 56 - ITAT BANGALORE), we decide this issue in favour of the assessee and direct the Assessing Officer to allow the carry forward of losses of the one unit without setting off against the profit of the other unit for the purpose of computing the deduction under Section 10A of the Act.
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