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2015 (11) TMI 981 - ITAT CHENNAI

2015 (11) TMI 981 - ITAT CHENNAI - [2015] 41 ITR (Trib) 590 (ITAT [Chen]) - Eligibility for deduction under section 10B - AO excluded freight charges and handling/clearing and forwarding charges attributable to delivery of article or a thing outside India from the export turnover, however the same was not excluded from the total turnover resulting in the additions - Held that:- What should be excluded from the purpose of export turnover, the same should be excluded from the total turnover also. .....

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al is filed by the Revenue, aggrieved by the order of the learned Commissioner of Income-tax (Appeals)-11, Chennai dated December 30, 2014 in I. T. A. No. 1146/2013-14 passed under section 143(3) read with section 250 of the Income-tax Act, 1961. 2. The Revenue has raised three elaborate grounds in its appeal, however the crux of the issue is that the Revenue is aggrieved by the order of the learned Commissioner of Income-tax (Appeals) who had directed the learned Assessing Officer to exclude th .....

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rief facts of the case are that the assessee is a company and 100 per cent. export oriented undertaking, engaged in the business of sale of loose leaf, ring metals/metal binders, filed its return of income on October 26, 2007 admitting income as ₹ 17,42,830. Subsequently the case was taken up for scrutiny and assessment was completed under section 143(3) read with section 92CA(4) of the Act on December 31, 2010 wherein the learned Assessing Officer while computing the eligible deduction un .....

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lowed the issue in favour of the assessee. The relevant portion of the learned Commissioner of Income-tax (Appeals)'s order is reproduced hereinbelow for reference : "7.2. The authorised representative submitted that the expenditure is incurred locally and hence, the question of disallowing the same does not arise. Further, the authorised representative relied on the decisions of the hon'ble Income-tax Appellate Tribunal in the case of Patni Telecom P. Ltd. v. ITO [2008] 22 SOT 38 ( .....

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