Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2020 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (4) TMI 122 - AT - Income TaxDeduction u/s 10AA - Exclusion of expenditure incurred in foreign currency, communication and insurance cost from export turnover - Expenditure incurred in connection with rendering of services outside India - HELD THAT:- CIT(A) while granting relief on alternative plea that same should be reduced from both export turnover as well as total turnover, has not adjudicated the issue, the expenditure incurred in foreign currency should not be reduced from the export turnover. Hence, this issue is remitted back to the file of ld. CIT(A) for fresh adjudication after affording due opportunity of hearing to the appellant in accordance with law. Thus, ground raised by the assessee is partly allowed for statistical purposes. Exclude expenditure incurred in foreign currency on insurance, freight and telecommunication charges from both export turnover and total turnover - HELD THAT:- As decided in favour of the assessee and against the Revenue by the decision of the Hon’ble Apex Court in the case of CIT vs. HCL Technologies Ltd [2018 (5) TMI 357 - SUPREME COURT]. Belated remittance of Provident Fund/ ESI payments as deduction - CIT-A deleted the addition on the ground that payments are made within the due date of filing of return of income and not within the time stipulated u/s.36(1) (va) - HELD THAT:- Hon’ble Jurisdictional High Court in the case of CIT vs. M/s. Industrial Security &Intelligence India Pvt. Ltd [2015 (7) TMI 1063 - MADRAS HIGH COURT] had held that when EPF/ESI contribution are made within due date of filing the return, the same should be allowed as deduction. Therefore we do not find any reason to interfere with the order of the ld. CIT(A). Ground No.3 raised by the Revenue stands dismissed.
|