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Income Tax Appellate Tribunal, BANGALORE BENCH A, BANGALORE
Before: SHRI. ABRAHAM P. GEORGE & SHRI. VIJAY PAL RAO
IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH 'A', BANGALORE BEFORE SHRI. ABRAHAM P. GEORGE, ACCOUNTANT MEMBER AND SHRI. VIJAY PAL RAO, JUDICIAL MEMBER (Assessment Year : 2009-10) Deputy Commissioner of Income tax, Circle -4(1)(1), Bangalore .. Appellant v. M/s. Jaipuria Silk Mills P. Ltd, No.43, Gudahatti Main Road, Nerlur Post, Anekal Taluk, Bangalore 562107 .. Respondent PAN : AAACJ9390D Assessee by : Shri. Ganeriwala, CA Revenue by : Dr. P. K. Srihari, Addl. CIT Heard on : 10.02.2016 Pronounced on : 19.02.2016 O R D E R PER ABRAHAM P. GEORGE, ACCOUNTANT MEMBER :
In this appeal filed by assessee, it is aggrieved that CIT (A) directed a reduction of the freight and insurance charges from the export turnover as ITA.1036/Bang/2015 Page - 2 well as the total turnover while computing the deduction allowable to the assessee u/s.10B of the Income-tax Act, 1961 (‘ the Act’ in short).
It is clear from ground 3 of the Revenue that it is aggrieved on the CIT (A) following the judgment of Hon’ble jurisdictional High Court in the case of CIT v. Tata Elxsi Ltd [349 ITR 98], wherein it was held unequivocally by their Lordships that items excluded from export turnover had to be excluded from the total turnover also while working out the eligible deduction. Since the CIT (A) had followed the judgment of jurisdictional High Court, just for a reason that an SLP has been filed before the Supreme Court, we cannot deviate from the view taken by the CIT (A). Accordingly we dismiss appeal of the Revenue.
In the result, appeal of the Revenue stands dismissed.
Order pronounced in the open court on 19th day of February, 2016.