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TMI Blog2017 (9) TMI 424X X X X Extracts X X X X X X X X Extracts X X X X ..... der. 2. Briefly stated, the facts of the case are as under:- 2.1 The assessee, a company engaged in the business of providing ITES and consultancy services, filed its return of income for asst. year 2010-11 on 23/9/2010 declaring Nil income after claiming Rs. 3,33,70,100/- as deduction u/s 10AA of the Income-tax Act, 1961 (in short 'the Act'). The case was taken up for scrutiny and the assessment was completed u/s 143(3) of the Act vide order dated 24/3/2014, wherein the assessee's income was determined at Rs. 39,75,105/- in view of the AO disallowing the assessee's claim for deduction u/s 10AA of the Act to the extent of Rs. 39,75,105/-. On appeal, the ld CIT(A)-4, Bangalore allowed the assessee's appeal vide the impugned order dated 21/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sue which is pending adjudication. 5. For these other grounds that may be urged at the time of hearing it is prayed that the order of the CIT (A) in so far as it is relates to the above grounds may be reversed and that of the Assessing Officer may be restored. 6. The appellant craves leave to add, alter, amend and/or delete any of the ggounds that may be urged. 4.2 In the grounds of appeal raised (Supra), Revenue contends that the ld CIT(A) has erred in directing the Assessing Officer ('AO') to exclude the reimbursement of expenditure incurred in foreign currency amounting to Rs. 2,82,28,806/- from both export turnover as well as from total turnover while computing deduction u/s 10AA of the Act, following the decision of the Hon'ble Ka ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ver. Section 10AA of the Act being analogous to sec. 10A of the Act, the aforesaid decision of Hon'ble Karnataka High Court in the case of Tata Elxsi Ltd., (Supra) would equally apply in favour of the assessee in the case on hand for computing eligible deduction u/ s 10AA of the Act. The decision in the case of Tata Elxsi Ltd., (Supra) has also been followed by the Hon'ble Court in the case of DCIT Vs. Motor Industries Co. Ltd; (ITA No.776/2006, 744/2007 and 1155/2006 dated 13/6/2014), holding that if any expenditure is sought to be reduced from export turnover, then it should also be reduced from total turnover for the purposes of computing the eligible deduction u/s 10A of the Act. In this legal and factual matrix of the case, as discusse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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