DCIT, BANGALORE vs. M/S OCWEN FINANCIAL SOLUTIONS PVT. LTD., BANGALORE

ITA 1178/BANG/2012Status: DisposedITAT Bangalore14 August 2015AY 2008-093 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that as per the jurisdictional High Court's decision, expenses excluded from export turnover must also be excluded from total turnover. Therefore, the CIT(Appeals)'s order was confirmed.

What were the facts?

The Revenue appealed against the CIT(Appeals)'s order directing the exclusion of foreign travel expenses and lease line charges from export turnover for Section 10A deduction. The AO argued these should be excluded from export turnover but not total turnover.

What were the issues?

Whether expenses excluded from export turnover for Section 10A calculation should also be excluded from total turnover.

Which sections of the Income-tax Act were involved?

Section 10A

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(1)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Income Tax Appellate Tribunal, “C” BENCH : BANGALORE

Before: SHRI N.V. VASUDEVAN & SHRI ABRAHAM P. GEORGE

For Appellant: Shri Sunil Kumar Agarwala, Jt. CIT(DR)
For Respondent: Shri Manoj Shenoy, CA
Hearing: 10.08.2015Pronounced: 14.08.2015

Per N.V. Vasudevan, Judicial Member

This appeal by the Revenue is against the order dated 06.07.2012 of the CIT(Appeals)-III, Bangalore relating to assessment year 2008-09. 2. The only issue that arises for consideration in this appeal is as to whether the CIT(Appeals) was justified in directing the AO to exclude travel expenses of Rs.4,77,02,200 incurred in foreign currency and lease line charges of Rs.3,03,43,321 from the export turnover, without reducing the same from the total turnover also, while computing deduction u/s.

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 10A

All 2,147 judgments and leading authorities on Section 10A →

Recent GST High Court judgments

Search GST case law →