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2015 (10) TMI 1464 - ITAT BANGALORE

2015 (10) TMI 1464 - ITAT BANGALORE - TMI - Re-computation of deduction u/s 10A - Held that:- Rhe issue raised by the revenue is no longer res integra and has now been decided by the Hon’ble High Court of Karnataka in the case of in the case of Tata Elxsi Ltd. in(2011 (8) TMI 782 - KARNATAKA HIGH COURT ) wherein it has been held that whatever is excluded from export turnover should also be excluded from the total turnover.

Addition being employees contribution of PF and ESI on account .....

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for deduction out of their gross income. The above said statutory provisions of the IT Act abundantly make it clear that the contention urged on behalf of the revenue that deducted from out of gross income for payment of tax at the time of submission of returns under section 139 is permissible only if statutory liability of payment of PF or other contribution funds referred to in clause(b) are paid within the due date under the respective statutory enactments by the assessees as contended by th .....

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evenue in its appeal has raised eight grounds. Out of the eight grounds, ground no.1,7 & 8 are general in nature and no specific adjudication is called for and hence the same are dismissed. 3. Ground no.2 & 3 is with regard to re-computation of deduction u/s 10A of the IT Act, 1961. Ground no.4 to 6 is with reference to amounts added back being employees contribution towards PF and ESI, the remittance of which was beyond the due date. 4. We shall dispose of the grounds issue wise as unde .....

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ly the same ought to be reduced also from the total turnover while computing the deduction u/s 10A of the IT Act, 1961. For the above proposition, the assessee relied on the judgment of the Hon ble jurisdictional High Court in the case of M/s Tata Elxsi Ltd reported in 349 ITR 98. The CIT(A) following the judgment of the Hon ble jurisdictional High Court allowed the appeal of the assessee. 5.3. The revenue being aggrieved is in appeal before us. 5.4. We have heard the rival submissions and perus .....

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rt. In view of the above reasoning, we see no reason to interfere with the order of the learned CIT(A) and we confirm the same. It is ordered accordingly. 6. Ground no.4 to 6 (adding back of ₹ 18,31,008/- being employees contribution of PF and ESI on account of its remission beyond the due date). 6.1. Brief facts in relation to the above grounds are as follows; The AO disallowed a sum of ₹ 18,31,008/- (Rs.18,24,647/- towards employees contribution to PF and ₹ 6,361 towards empl .....

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