TMI Blog2018 (5) TMI 1878X X X X Extracts X X X X X X X X Extracts X X X X ..... the case of HCL Technologies Ltd. Ors. [ 2018 (5) TMI 357 - SUPREME COURT] wherein it is held that the expenses excluded from export turnover have to be excluded from the total turnover also. Otherwise, any other interpretation makes the formula unworkable and absurd. In view of that the corresponding grounds of the Revenue s appeal are dismissed. MAT Credit - disallowance made with regard ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... PER S. JAYARAMAN, ACCOUNTANT MEMBER: The Revenue filed this appeal against the order of the Commissioner of Income Tax (Appeals)-6, Chennai, in ITA No.50/CIT(A)-6/2016-17 dated 19.09.2017 for the AY 2013-14. 2. M/s .Infastech Fastening Technologies India Pvt. Ltd., the assessee, is engaged in the business of manufacturing and supply of electronic fasteners and i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing grounds: 1 The Order of the learned Commissioner of Income Tax (Appeals) is contrary to the Law and facts of the case. 2.1 The CIT(A) erred in directing the AO to re-compute the deduction by reducing exclusions in the export turnover, from the total turnover as well by upholding the decision of ITAT Chennai in the case of M/s. Sak Soft Ltd reported in 313 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n computing the export turnover and total turnover, the Ld.AR invited our attention to para 20 of the Hon ble Supreme Court s decision in the case of HCL Technologies Ltd. Ors. in Civil Appeal Nos.8489-8490 of 2013 dated 24.04.2018 wherein it is held that the expenses excluded from export turnover have to be excluded from the total turnover also. Otherwise, any other interpretation makes the fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ision rendered by the Ld.CIT(A) does not require any interference. 5.1 We heard the rival submissions and find no merit in the submissions made by the Ld.AR. In view of that the corresponding grounds of the Revenue s appeal are dismissed. 7. In the result, the appeal filed by the Revenue is dismissed. Order pronounced in the Open Court on May 31, 201 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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