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2022 (1) TMI 1026 - AT - Income TaxTP Adjustment - addition in Software development transactions under Mutual Agreement Proceedings (MAP) under Article 27 of DTAA entered between India and USA - correctness of granting risk adjustment to the assessee by Ld DRP - HELD THAT:- Since the entire transfer pricing dispute has been resolved under MAP proceedings, this ground of the revenue does not require to be adjudicated. Accordingly, we reject the same. Deduction allowed u/s 10A - whether the Ld CIT(A) was justified in holding that the expenses incurred in foreign currency is required to be reduced from both export turnover and total turnover while computing deduction u/s 10A ? - HELD THAT:- D.R fairly agreed that this issue has since been decided in the case of HCL Technologies Ltd [2018 (5) TMI 357 - SUPREME COURT] holding that the expenses should be excluded both from export turnover and turnover for the purpose of computing deduction u/s 10A of the Act. We also notice that the CBDT has issued a Circular No.4/2018 dated 14th August, 2018 directing the department not to file appeals in respect of the above said issue. Accordingly, this ground of revenue is liable to be rejected.
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