DCIT, BANGALORE vs. M/S SOBHA RENAISSANCE INFORMATION TECHNOLOGY PVT. LTD., BANGALORE

ITA 1571/BANG/2014Status: DisposedITAT Bangalore14 August 2015AY 2010-115 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that expenses reduced from export turnover must also be reduced from total turnover for Section 10A deduction, following the jurisdictional High Court. It also held that employees' PF/ESI contributions paid before the return filing due date are allowable deductions, as per the jurisdictional High Court.

What were the facts?

The revenue appealed against the CIT(A)'s order regarding re-computation of deduction under Section 10A and addition of employees' contribution to PF/ESI remitted beyond the due date. The CIT(A) had allowed the assessee's contentions in both matters.

What were the issues?

Whether expenses incurred in foreign currency should be reduced from both export and total turnover for Section 10A deduction. Whether delayed remittance of employees' PF/ESI contributions beyond the statutory due date but before the return filing due date is allowable as a deduction.

Which sections of the Income-tax Act were involved?

Section 10A,Section 36(1)(va),Section 139

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Cases cited in this judgment(2)Show list

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Income Tax Appellate Tribunal, BANGALORE BENCH ‘B’, BANGALORE

Before: SHRI GEORGE GEORGE, K & SHRI JASON P BOAZ

For Appellant: Shri K.R.Vasudevan, Advocate
For Respondent: Dr. P.K.Srihari, Addl.CIT, Shri K.R.Vasudevan, Advocate

PER SHRI GEORGE GEORGE, K JM:

This appeal at the instance of revenue, is directed against the CIT(A)’s order dated 26-09-2014. The relevant assessment year is 2010-

11.2.

The revenue in its appeal has raised eight grounds. Out of the eight grounds, ground no.1,7 & 8 are general in nature and no specific

adjudication is called for and hence the same are dismissed.

2 ITA No.1571 (Bang)2014

3.

Ground no.2 & 3 is with regard to re-computation of deduction

u/s 10A of the IT Act, 1961. Ground no.4 to 6 is with reference to amounts

added back being empl

The order continues below.

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