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2021 (3) TMI 1182 - HC - Income TaxDisallowance u/s 14A - correctness of claim of the Respondent in respect of such expenditure in relation to income which does not form part of the total income under this Act - HELD THAT:- Issues as covered by the judgement of the coordinate Bench of this Court rendered in Joint Investments (P.) Ltd. vs. Commissioner of Income-tax [2015 (3) TMI 155 - DELHI HIGH COURT] Nature of expenditure - license fee paid to the Department of telecommunication by the assessee - revenue or capital expenditure - HELD THAT:- This issue covered by the judgement of the coordinate Bench of this Court in Commissioner of Income-tax vs. Bharti Hexacom Ltd., [2013 (12) TMI 1115 - DELHI HIGH COURT] Exemption under section 10A - whether to be computed after excluding telecommunication expenses and foreign currency expenditure from the export turnover? - HELD THAT:- Issue covered by the judgement of the Supreme Court rendered in Commissioner of Income-tax, Central - III vs. HCL Technologies Ltd. [2018 (5) TMI 357 - SUPREME COURT] Disallowance of unrealized foreign exchange loss on account of reinstatement of assets and liabilities - whether this is a notional loss and not allowable to be set off against the taxable income in view of the CBDT’s instruction no. 3 of 2010 dated 23.03.2010? - HELD THAT:- the power invested in this Court under Section 260A of the Act is to adjudicate upon the substantial question(s) of law. The revenue, having not laid an edifice concerning the purported non-fulfilment of any of the conditions, stipulated by the Supreme Court in Woodward Governor India P. Ltd. [2009 (4) TMI 4 - SUPREME COURT] cannot, for the first time, without even taking a ground in the instant appeal, argue before us that the loss which accrued to the assessee on account of the foreign currency fluctuation cannot be claimed by it as a business loss.
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