Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, ‘B’ BENCH, BENGALURU
Before: SHRI VIJAY PAL RAO & SHRI INTURI RAMA RAO
This is an appeal filed by the revenue directed against the order of the CIT(A)-7, Bengaluru, dated 05/02/2016 for the assessment year 2007-08.
Page 2 of 3 2. The revenue raised the following grounds of appeal.
2. The issue sought to be raised in the above grounds is covered in favour of the assessee by the decision of the Hon’ble Karnataka High Court in the case of CIT vs. Tata Elxsi Ltd. (349 ITR 98). The CIT(A) has only followed the decision of the jurisdictional High Court in the case of Tata Elxsi (supra) in directing the AO to reduce expenditure incurred in foreign currency towards telecommunication and travelling both from export turnover as well as total turnover for the purpose of calculating benefit u/s 10A of the Income-tax Act, 1961 [hereinafter referred to as 'the Act' for short]. Therefore, we do
Page 3 of 3 not find any merit in the appeal filed by the revenue and is accordingly dismissed.