TMI Blog2016 (3) TMI 1285X X X X Extracts X X X X X X X X Extracts X X X X ..... HAR, ACCOUNTANT MEMBER Assessee by : Shri Dinesh Vyas, Sr. Counsel Revenue by : Shri Ritesh Misra O R D E R PER SAKTIJIT DEY, J.M. Aforesaid appeal of the assessee is directed against the order dated 10th July 2013, passed by the learned Commissioner (Appeals) 18, Mumbai, pertaining to assessment year 2009 10. 2. The solitary issue in dispute relates to disallowance of assessee s claim of deduction under section 10A of the Act in respect of interest income of ₹ 4,46,09,912. 3. Briefly stated the facts are, assessee company is engaged in the business of providing Information Technology Enabled Services (ITES). For the assessment year under consideration, assessee filed its return of income on 29th Septemb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s noticed that identical dispute involving allowance of assessee s claim of deduction under section 10A in respect of interest income was subject matter of appeal before the Tribunal in assessment year 2007 08 and 2008 09. In the latest order in ITA no.3743/Mum./2013, dated 29th February 2016, for assessment year 2008 09, the Tribunal has followed its own decision for assessment year 2007 08 in ITA no.7610/Mum./2011 dated 6th January 2016, and allowed assessee s claim of deduction under section 10A of the Act in respect of interest income. The relevant observations of the Tribunal in this regard are reproduced below: 6. We have considered the submissions of the parties, perused the orders of the authorities below and the material avail ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt. As could be seen, following orders of the co ordinate bench and High Court in case of M/s. Syntel Ltd. as aforesaid, the Tribunal in assessee s own case for assessment year 2007 08 in ITA no.7610/Mum./ 2011 dated 6th January 2016, has allowed deduction under section 10A, observing as under: 3.3.1 We have heard the rival contentions and perused and carefully considered the material on record; including the judicial decisions cited. We find that the very same issue as the issue before us has been considered and decided by a Co-ordinate bench of this Tribunal in the case of the assessee s sister concern, M/s. Syntel Limited, in ITA No.3413/Mum/ 2007 dated 31/08/2015 at para 5 and 5.1 thereof. The Co-ordinate bench has held that intere ..... X X X X Extracts X X X X X X X X Extracts X X X X
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