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Tetra Soft (India) Pvt. Ltd. Versus Asst. Commissioner of Income-tax, Circle – 2 (3) , Hyderabad

Disallowance of employees' contribution of provident fund under section 36(1)(va) - Held that:- Though it is a fact that the assessee has remitted the employees' contribution to provident fund not within the due date as prescribed under the Explanation to section 36(1)(va), however, the assessee has remitted the amount within the due date of filing of return of income under section 139(1) of the Act. Therefore, in view of the provisions of section 43B the amount cannot be disallowed. Accordingly .....

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e's claim of depreciation at 60 per cent.- Decided in favour of assessee.

Computation of deduction under section 10A - Held that:- We direct the Assessing Officer to compute deduction under section 10A of the Act by reducing internet charges and onsite expenses both from export turnover and total turnover. - Decided in favour of assessee. - ITA Nos. 218 & 219/Hyd/2015 - Dated:- 3-6-2015 - SHRI P.M. JAGTAP AND SHRI SAKTIJIT DEY, JJ. For the Appellant : Shri G. Venkateswarlu For the Res .....

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e initiation of penalty proceedings under section 271(1)(c) of the Income-tax Act, 1961. This ground being premature at this stage of proceeding, do not require adjudication, hence, the same is dismissed. 3. In ground No. 3, the assessee has challenged the disallowance of an amount of ₹ 2,16,412, being employees' contribution of provident fund, under section 36(1)(va) of the Act. 4. Briefly the facts are, the assessee is a company deriving income from software design and development. F .....

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₹ 2,16,412. Being aggrieved of such disallowance, the assessee preferred an appeal before the learned Commissioner of Income-tax (Appeals). The learned Commissioner of Income-tax (Appeals) also confirmed the disallowance. 5. The learned authorised representative submitted before us, if the employees' contribution to provident fund is remitted within the due date of filing of return of income as provided under section 139(1) of the Act, the same would be an allowable deduction as per se .....

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cer. 7. We have considered the submissions of the parties and perused the orders of the Revenue authorities as well as other materials on record. Though it is a fact that the assessee has remitted the employees' contribution to provident fund not within the due date as prescribed under the Explanation to section 36(1)(va), however, the assessee has remitted the amount within the due date of filing of return of income under section 139(1) of the Act. Therefore, in view of the provisions of se .....

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not part of the computer system. Though, the assessee challenged the decision of the Assessing Officer before the learned Commissioner of Income-tax (Appeals), but, he also confirmed the view expressed by the Assessing Officer. 10. We have considered the submissions of the parties and perused the materials on record. We hold that UPS being part and parcel of computer system, depreciation allowable on UPS is at 60 per cent. as prescribed for computers. There are number of decisions of different B .....

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and perused the materials on record, we are of the view that in view of the decisions of the hon'ble Bombay High Court in the case of CIT v. Gem Plus Jewellery India Ltd. [2011] 330 ITR 175 (Bom) and the Special Bench decision of the Chennai Tribunal in the case of ITO v. Sak Soft Ltd. [2009] 313 ITR (AT) 353 (Chennai) [SB] and a number of decisions of various Benches of this Tribunal, internet charges and onsite expenses have to be reduced both from the export turnover and total turnover wh .....

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