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2018 (11) TMI 1552 - HC - Income TaxComputation of deduction u/s 10A - exclude expenses incurred in foreign currency and other expenses that has been excluded from ETO, from the total turnover also - Held that:- The issue is covered by the decision of the hon'ble Supreme Court in the case of CIT v. HCL Technologies Ltd [2018 (5) TMI 357 - SUPREME COURT] as held 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. Oth erwise, any other interpretation makes the formula unworkable and absurd. Hence, we are satisfied that such deduction shall be allowed from the total turnover in same proportion as well. TPA - selection of comparable - Held that:- Since the Tribunal has examined the profile and datas of Bodh tree Consulting Ltd. and has come to the conclusion that this com pany cannot be taken as good comparable for computing the arm's length price (ALP), we find no justification in re-examining the issue again. Accordingly, following the aforesaid order of the Tribunal, we uphold the exclusion of Bodhtree Consulting Ltd. from the list of comparables. Sankhya Infotech Ltd. was examined by the Tribunal and the Tribunal following the view taken in the case of Kodiak Network India Ltd.[2015 (8) TMI 225 - ITAT BANGALORE] has directed the TPO to exclude this company from the list of comparables - same yardsticks and parameters will have to be applied, even if such appeals are filed by the assessees, because, there may be cases where the Tribunal giving its own reasons and findings has found certain comparables to be good comparables to arrive at an 'arm's length price' in the case of the assessees with which the assessees may not be satisfied and have filed such appeals before this court. Therefore we clarify that mere dissatisfaction with the findings of facts arrived at by the learned Tribunal is not at all a sufficient reason to invoke section 260A of the Act before this court - Decided against revenue
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