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2021 (8) TMI 567 - HC - Income TaxDeduction u/s 10A - exclusion of establishment and maintenance expenses pertaining to foreign branch from export turnover - Whether Tribunal was right in holding that 50% of the telecommunication expense both from the export turnover and total turnover is to be made while computing deduction u/s 10A? - Tribunal was right in granting deduction u/s 10A without setting of brought forward losses especially when Section 2(45) clearly defines the total income as an amount referred to in Section 5 computed in the manner laid down under the Income Tax Act and therefore the total income to be worked out after giving effect to provisions of Sections 71 and 72 contained in Chapter VI of the Income Tax Act - HELD THAT:- It is not disputed before us that all the substantial questions of law, which have been framed for consideration in these appeals, have been considered by the Division Bench of this Court in the case of CIT vs. SRA Systems Ltd [2019 (2) TMI 57 - MADRAS HIGH COURT] - Decided against revenue.
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