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2021 (3) TMI 977 - HC - Income TaxDeduction u/s 10A - Whether Tribunal was right in holding that Internet expenses incurred in foreign exchange should be reduced from the total turnover for the purpose of computing deduction? - HELD THAT:- Question of Law no.1 is covered by the decision of the Hon'ble Supreme Court reported in Commissioner of Income-tax, Central – III Vs. HCL Technologies Ltd. [2018 (5) TMI 357 - SUPREME COURT]. Entitled to deduction under Section 10A in respect of the alleged new unit even though the said unit had been substantially made up using the assets of the old units and thus not fulfilling the conditions laid down in clauses (ii) and (iii) of Section 10A(2) - HELD THAT:- This issue covered by the decision of this Bench in Commissioner of Income Tax, Chennai Vs. M/s.S.R.A. Systems Ltd., No.100, Valluvar Kottam High Road, Nungambakkam, Chennai [2021 (1) TMI 843 - MADRAS HIGH COURT] Claim for deduction under Section 10A was to be allowed before adjusting brought forward losses and unabsorbed depreciation - HELD THAT:- Question of law no.3 is covered by the decision of the Division Bench of this Court in M/s.Comstar Automative Technologies Private Ltd.[2020 (3) TMI 814 - MADRAS HIGH COURT]. We are convinced that the Questions of Law involved in the present appeal are covered by the decisions relied upon by the learned counsel for the respondent, cited supra. Following the decisions of the Hon'ble Supreme Court and the decisions of this Court, the Questions of Law are decided against the Revenue and in favour of the assessee
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