TMI Blog2015 (10) TMI 2234X X X X Extracts X X X X X X X X Extracts X X X X ..... ct the Assessing Officer that telecommunication charges and travel expenses incurred in foreign currency are to be excluded from both export turnover as well as total turnover while computing the deduction under Section 10A of the Act, as has been prayed by the assessee. It is ordered accordingly.- Decided in favour of assessee. - IT(TP) A. No. 1336/Bang/2010 - - - Dated:- 18-9-2015 - Vijaypal Rao, JM And Jason P Boaz, AM, JJ. For the Petitioner : Shri A S Sriraman, Adv For the Respondent : Shri G R Reddy, CIT (DR) ORDER Per Shri Jason P Boaz, AM. This appeal by the assessee is directed against the final order of assessment for Assessment Year 2006-07 passed under Section 143(3) rws 144C(13) of the Income Tax Act, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , including the proposed T.P. Adjustment and restricted the deduction claimed by the assessee under Section 10A of the Act. The assessee filed its objections thereto before the DRP. The DRP disposed off the assessee's objections vide its directions under Section 144C of the Act dt.29.9.2010 allowing the assessee partial relief. In pursuance thereof, the Assessing Officer passed the final order of assessment under Section 143(3) rws 144C(13) of the Act vide order dt.29.10.2010 wherein the income of the assessee was computed at ₹ 38,10,260 in view of the restriction of the assessee's claim for deduction under Section 10A of the Act to ₹ 1,78,17,937. 3. Aggrieved by the final order of assessment for Assessment Year 2006- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proceeded to recompute the deduction under Section 10A of the Act by reducing the aforesaid expenses incurred in foreign currency from the Export Turnover only. The assessee submits that the aforesaid expenses that are reduced from export turnover should also be reduced from total turnover and placed reliance on the decision of the Hon'ble Karnataka High Court in the case of CIT V Tata Elxsi Ltd. (2012) 349 ITR 98 (Kar), which decision has been followed by the co-ordinate bench of this Tribunal in the assessee's own case for Assessment Year 2005-06 in IT(TP)A No.175/Bang/2012 dt.30.4.2015. 4.2 We have heard both the learned Authorised Representative and the learned Departmental Representative in the matter. Taking into considera ..... X X X X Extracts X X X X X X X X Extracts X X X X
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