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2016 (3) TMI 830 - BOMBAY HIGH COURT

2016 (3) TMI 830 - BOMBAY HIGH COURT - TMI - Exemption u/s 10A manner of computation Held that:- The issue raised herein is stand concluded against the revenue by the decision of this Court in Gem Plus Jewellery India Ltd. (2010 (6) TMI 65 - BOMBAY HIGH COURT) wherein held Freight and insurance do not have an element of turnover - these two items would have to be excluded from the total turnover particularly in the absence of a legislative prescription to the contrary - The plain consequence .....

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r of export -Decided in favour of assessee - Income Tax Appeal No. 2335 of 2013 - Dated:- 8-3-2016 - M. S. Sanklecha And Vibhu Bakhru, JJ. For the Appellant : Mr. Suresh Kumar a/w Ms. Samiksha Kanani For the Respondent : Mr. J. D. Mistry, Senior Counsel, a/w Atul Jasani ORDER P. C. 1. This Appeal filed by the Revenue under Section 260A of the Income Tax Act, 1961 ( the "Act") challenges the order dated 31st January, 2013 passed by the Income Tax Appellate Tribunal ("Tribunal" .....

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ion of the Special Bench of the ITAT in the case of Sak Soft Ltd. [2009] 313 ITR (AT) 353 (Chennai), when the Income Tax Department has not accepted the principles laid down by the said decision and as an SLP has been filed by the Department in the case of Gems Plus Jewellery India Ltd. decided by the Bombay High Court reported in 330 ITR 175 (Bom.)? (b) Whether on the facts and circumstances of the case, the Tribunal was correct in law in holding that while computing the income exempt u/s. 10A .....

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