POLARIS CONSULTING AND SERVICES LTD.,CHENNAI vs. DCIT, CHENNAI

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ITA 2315/CHNY/2016Status: DisposedITAT Chennai06 September 2021AY 2010-114 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal, in a recalled order, had previously held that the assessee was eligible for deduction under Section 10A on enhanced income after disallowance under Section 14A. This issue was settled in favor of the assessee.

What were the facts?

The assessee appealed an order of the CIT(A). The High Court had previously remanded the matter to the Tribunal for fresh consideration on a specific question of law regarding the exclusion of foreign currency expenditure from 'Export Turnover'.

What were the issues?

Whether foreign currency expenditure not included in 'Export Turnover' should be excluded from 'Export Turnover' for Section 10A deduction. The eligibility of Section 10A deduction on enhanced income after Section 14A disallowance.

Which sections of the Income-tax Act were involved?

Section 10A,Section 14A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH, CHENNAI

Before: SHRI DUVVURU RL REDDY & SHRI S. JAYARAMAN

Hearing: 06.09.2021Pronounced: 06.09.2021

आदेश /O R D E R PER S. JAYARAMAN, ACCOUNTANT MEMBER:

1.

The assessee filed this appeal against the order of the Commissioner of Income Tax (Appeals)- 3, Chennai in dated 31.03.2016 for the assessement year 2010-11.

:-2-: ITA No: 2315/Chny/2016

2.

The case was heard through video conferencing. The Ld. AR submitted that against the order of this tribunal ‘A’ Bench in 29.06.2017, the assessee filed an appeal before the Hon’ble Jurisdictional High Court, wherein on its substantial Question of Law no 4 i.e., Whether under the facts and circumstances of the case the Tribunal was right in holding that the expenditure incurred by the appellate in foreign currency which was not included in the ‘Export Turnover’ is to be excluded from the ‘Export Turnover’ ?, the Hon’ble High Court held remanded to the Tribunal for fresh consideration after affording an opportunity to the assessee.

2.1 In pursuance of such matter, this case was posted for hearing. The Ld. AR inviting our attention to the paperbook wherein, the order of CMP No. 13829 of 2020 in TCA No. 292 of 2018 dated 23.12.2020 and the order of this tribunal in 29.10.2018 (recalled order) etc placed and submitted that against the original ITAT order in dated 29.06.2017, the assessee filed an appeal before the Hon’ble High Court. Meanwhile, it filed a Miscellaneous Petition before the Hon’ble Tribunal. Subsequently, the Hon’ble Tribunal passed the recalled order on 29.10.2018, supra, holding that the assessee was eligible to claim deduction u/s. 10A of the Act on the enhanced income, after the disallowance made u/s. 14A of the Act

:-3-: ITA No: 2315/Chny/2016 and directed the Assessing Officer to rework the deduction available to the assessee u/s. 10A of the Act accordingly. Thus, the impugned ground No. 1.6 of the assessee is allowed. Since, the issue is already settled by the Hon’ble ITAT in the recalled order in the assessee’s favour, this appeal may be dismissed as withdrawn. Per contra, the Ld. DR submitted that since, the issue is already settled by the Hon’ble Tribunal in the recalled order in favour of the assessee, she has no objection to the Ld. AR’s submissions.

4.

We heard the rival submissions. Since, the assessee’s ground no. 1.6 which was subject matter of the substantial Question of Law no. 4, supra, is decided by the Hon’ble Tribunal in the recalled order, supra, in favour of the assessee, we dismiss this appeal as withdrawn.

5.

In the result, the appeal filed by the assessee is dismissed as withdrawn.

Order pronounced on 06th September, 2021 at Chennai.

(एस जयरामन) (धु�वु� आर. एल रे�डी) (S. JAYARAMAN) (DUVVURU RL REDDY) �या�यकसद�य/Judicial Member लेखासद�य/Accountant Member

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