TMI Blog2013 (1) TMI 65X X X X Extracts X X X X X X X X Extracts X X X X ..... ted position that the nature of service are such that the services are being provided in India and thereafter merely transmitted to Standard and Poor. Therefore, the foreign exchange expenses relating to travel, professional fees and other matters are not incurred in providing technical services outside India. Further the expenses in foreign exchange have been reimbursed and therefore were not originally included in export turnover by the respondent assessee so as to rework the same. Thus no fault can be found in the order of the Tribunal - no substantial questions of law. - Income Tax Appeal No. 6956 of 2010 - - - Dated:- 18-12-2012 - J.P. Devadhar And M.S. Sanklecha, JJ. Appellant Rep. by : Mr. Arvind Pinto Respondent Re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d) Whether on the facts and circumstances of the case, and in law, the ITAT was justified in quashing the order u/s. 263 of the IT Act, 1961 passed by the Commissioner on 30.03.2009, even though the assessee company was unable to furnish evidence to show that only a part of the expenses pertained to the various 10A units? 3. The respondent assessee is engaged in the business of rendering rating, advisory, research and information services. The respondent assessee has a unit registered under the Software Technology Park engaged in data collection services for Standard and Poor's rating services and transmitting it to them. For the Assessment Year 2004-05, the respondent assessee while filing its return of income claimed exemption of Rs.1. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee filed an appeal to the Tribunal. The Tribunal held that the Commissioner of Income Tax has assumed jurisdiction on the ground that the Assessing Officer did not make further inquiries with regard to the nature of expenses incurred in foreign exchange for the purpose of determining the deduction under Section 10A of the Act. This according to the Tribunal would only be necessary when the fact stated in the return or in the documents submitted would provoke a doubt which would require a further inquiry. Further, there is no dispute that the foreign exchange expenses has been reimbursed on actual basis without any element of profit. In any event, the Tribunal held that the entire dispute is covered in favour of the respondent-assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X
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