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ASSISTANT COMMISSIONER OF INCOME-TAX Versus TOCHEUNGLEE STATIONERY MFG. CO. P. LTD.

2015 (11) TMI 981 - ITAT CHENNAI

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. See Income-Tax Officer. Versus Sak Soft Limited. [2009 (3) TMI 243 - ITAT MA .....

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er 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 the amount of ₹ 12,41,037 being port handling/clearing and forwarding ch .....

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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 under section10B of the Act excluded freight charges of ₹ 55,86,208 and .....

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ed 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 (Hyd). Without prejudice to the above, he submitted that in case it should be .....

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