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2021 (12) TMI 518 - SC - Income TaxDeduction u./s 10A - Set-off of losses of STP/SEZ units against other income - Whether losses of 10A units cannot be set off against income of non-10A units? 0 principles of red-judicata - Whether High Court has erred in holding that deemed export, reimbursement of expenses, expenses incurred in foreign currency, delayed export proceeds and VAT/GST will form part of export turnover for the purpose of computation of deduction U/s. 10A - HELD THAT:- This Special Leave Petition challenges the judgment and final order [2020 (12) TMI 1300 - KARNATAKA HIGH COURT] which was disposed of in terms of the judgment passed [2020 (12) TMI 687 - KARNATAKA HIGH COURT] which in turn was disposed of in terms of the judgment passed [2020 (12) TMI 678 - KARNATAKA HIGH COURT] issues covered by decisions of this Court in M/s. WIPRO Ltd. [2015 (10) TMI 826 - KARNATAKA HIGH COURT] and Commissioner of Income Tax & Another v. TATA Elxsi Ltd.,[2016 (3) TMI 460 - KARNATAKA HIGH COURT]are pending adjudication at the instance of the revenue before the Supreme Court. In view of the aforesaid submission needless to state that the Assessing Officer shall decide the issues in accordance with the decision which may be rendered by the Supreme Court. As held no interference is called for with the order passed by the tribunal. The Supreme Court in Radhasoami Satsang [1991 (11) TMI 2 - SUPREME COURT] has held that even though principles of res judicata do not apply to income tax proceedings, but where a fundamental aspect permeating through the different Assessment Years has been found as the fact one way or the other and the parties have allowed the position to be sustained by not challenge the order, it would not be at all appropriate to allow the position to be changed in subsequent year. For this reason also, in the facts of the case, a different view cannot be taken. In the instant case, the tribunal has answered all the substantial questions of law in favour of the assessee In view of the observations made by the High Court, we dispose of the instant petition by reiterating the observations and clarifying that as and when the decisions with respect to the Questions No.(i), (ii) and (viii) are rendered by this Court, the matters shall be governed in terms of directions issued by the High Court. Expenses of corporate office are to be allocated on ad hoc percentage of 20% and not based on turnover of various undertakings/business for the purpose of deductions U/s. 10A, 80-IB and 80-IC - Whether High Court has erred in holding that deemed export, reimbursement of expenses, expenses incurred in foreign currency, delayed export proceeds and VAT/GST will form part of export turnover for the purpose of computation of deduction U/s. 10A? - HELD THAT:- Matter was disposed of in terms of the judgment passed by the High Court in [2020 (12) TMI 678 - KARNATAKA HIGH COURT] stating all the remaining issues covered by decisions of this Court in WIPRO Ltd. [2015 (10) TMI 826 - KARNATAKA HIGH COURT] and Commissioner of Income Tax & Another v. TATA Elxsi Ltd.,[2016 (3) TMI 460 - KARNATAKA HIGH COURT] are pending adjudication at the instance of the revenue before the Supreme Court. In view of the aforesaid submission needless to state that the Assessing Officer shall decide the issues in accordance with the decision which may be rendered by the Supreme Court.
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