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2014 (6) TMI 1007 - HC - Income TaxDeduction u/s 10A computation - up-linking charges deducted for computing export turnover u/s.10A - Held that:- Substantial questions of law are answered in favour of the assessee as relyin on Commissioner of Income Tax and Another Vs. Tata Elxsi Ltd., & Others (2011 (8) TMI 782 - KARNATAKA HIGH COURT) wherein held charges both from the export turnover as well as from the total turnover for the purposes of computation of deduction u/s 10A of the Act. Section 10A deduction allowable to the assessee in respect of profit making unit -Whether the tribunal was correct in failing to appreciate the substituted Section 10A of the Act by Finance Act, 2000 w.e.f. 1.4.2001 that the deduction is to be allowed u/s.10A of the Act on the total income of the assessee without setting out the loss from non-profit making units? - Held that:- As considered by this Court in the case of Commissioner of Income Tax and Another Vs. Yokogawa India Ltd., & Others reported in (2011 (8) TMI 845 - Karnataka High Court) and was answered in favour of the assessee and against the Revenue. Deduction u/s.10A allowable in respect of income computed on the arms length price - Section 92(C)(4) applicability - Held that:- The error committed by the Assessing Officer was relying on Section 92(C)(4) to a case where Arm’s Length Price was determined by the assessee, whereas the said provision applies to a case where Arm’s Length Price was determined by the Assessing authority. That mistake has been corrected by the tribunal by setting aside the order passed by the Commissioner as well as the assessing authority. No error committed by the Tribunal in the impugned order. - Decided against revenue
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