TMI Blog2020 (9) TMI 876X X X X Extracts X X X X X X X X Extracts X X X X ..... de the expenditure incurred in foreign currency from the export turnover. See CHANGEPOND TECHNOLOGIES (P) LIMITED. [ 2008 (2) TMI 486 - ITAT MADRAS-A] and PATNI TELECOM (P) LIMITED. [ 2008 (1) TMI 452 - ITAT HYDERABAD-A] View taken by the Assessing Officer was a plausible view and the view taken by him cannot be said to be erroneous. Therefore, in view of well settled legal position, invocation of powers in the fact situation of the case under Section 263 of the Act could not have been held to be justified. - Decided in favour of assessee. - I.T.A. NO. 348 OF 2013 - - - Dated:- 16-9-2020 - THE HON'BLE MR. JUSTICE ALOK ARADHE And THE HON'BLE MR. JUSTICE H.T.NARENDRA PRASAD FOR THE PETITIONER : SRI. K.V. ARAVIND, ADV ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come of ₹ 1,27,54,870/-. The assessee claimed deduction under Section 10A of the Act without excluding the expenditure incurred in the foreign currency from export turnover. The case was selected for scrutiny and a notice dated 10.10.2006 under Section 143(2) of the Act was issued. The Assessing Officer without noticing the fact that assessee claimed deduction under Section 10A of the Act without excluding the expenditure incurred in foreign currency from export turnover granted the deduction as claimed by the assessee. The Commissioner of Income Tax (Appeals) on examination of the records in exercise of powers under Section 263 of the Act noticed that assessee has claimed deduction under Section 10A of the Act without producing the e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d, learned counsel for the assessee has supported the order passed by the Tribunal. 5. We have considered the submissions made by learned counsel for the parties and have perused the record. Before proceeding further, it is apposite to take note of the relevant extract of Section 263 of the Act, which reads as under: 263. Revision of orders prejudicial to revenue (1) The Commissioner may call for and examine the record of any proceeding under this Act, and if he considers that any order passed therein by the Assessing Officer is erroneous in so far as it is prejudicial to the interests of the revenue, he, may, after giving the assessee an opportunity of being heard and after making or causing to be made such inquiry as he deems neces ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .2773/2020 DECIDED ON 17.07.2020. 8. In view of aforesaid enunciation of law, the facts of the case may be seen. The assessee is engaged in the business of computer software development and services. The expenditure incurred in foreign currency on traveling, professional charges and onsite service charges are for development of software at clients site outside India, the assessee has neither rendered any technical services nor has earned any receipt from rendering technical services. Therefore, there is no need to exclude the expenditure incurred in foreign currency from the export turnover. [SEE: 'PATANI TELECOM (P) LTD. VS. ITO', (2008) 22 SOT 26 (Hyd) and 'CHANCEPOND TECHNOLOGIES (O) LTD., V. ASST. CIT', (2008) 22 SOT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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