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2017 (6) TMI 651 - AT - Income TaxTPA - selection of comparable - Held that:- Accepting the contention of the Ld. DR, we hereby direct the TPO to examine afresh the entire TP issue by applying the correct filters. Quantum of deduction u/s.10B in respect of communication charges and travelling expenses - Held that:- As held by the Hon’ble High Court in Tata Elxsi Ltd (2011 (8) TMI 782 - KARNATAKA HIGH COURT) expenses excluded from export turnover had to be excluded from the total turnover also while working out the eligible deduction. We direct the AO/TPO to follow the judgment of the Hon’ble jurisdictional High Court in Tata Elxsi Ltd (supra) and exclude the expenses incurred in foreign currency both from the total turnover as well as the export turnover while computing the deduction u/s.10B. Short credit of taxes paid as self-assessment tax - Held that:- AO is duty bound to give the adjustment of the credit of the self-assessment tax paid by the assessee. Accordingly, we direct the AO to give credit for the full amount deposited by the assessee under the self-assessment tax. If the AO is not agreeable to grant the credit for an amount of ₹ 45,22,357/-, then the AO is directed to give cogent reason for not giving credit for the same. This ground is allowed.
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