M/S SAMSUNG R & D INSTITUTE INDIA BANGALORE PRIVATE LIMITED,BANGALORE vs. ADDL.C.I.T., BANGALORE
What did the Tribunal hold?
The Tribunal upheld the CIT(Appeals)'s decision regarding the exclusion of expenses from export turnover, stating that the jurisdictional High Court's decision was binding. For the depreciation on goodwill issue, the Tribunal set aside the CIT(Appeals)'s order and remanded the issue to the Assessing Officer for fresh consideration.
What were the facts?
The Revenue appealed against the CIT(Appeals)'s decision to exclude certain foreign currency expenses from export turnover while computing deduction under Section 10B. The assessee also appealed against the CIT(Appeals)'s refusal to admit an additional ground for depreciation on goodwill.
What were the issues?
Whether expenses incurred in foreign currency should be excluded from both export turnover and total turnover for Section 10B deduction. Whether depreciation on goodwill can be claimed as an additional ground before the appellate authorities.
Which sections of the Income-tax Act were involved?
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Cases cited in this judgment(5)Show listHide 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.
- Goetze (India) Ltd. v. CIT1,842 citing284 ITR 323 · 2006 · SC
- Jute Corporation of India Ltd. v. CIT1,372 citing187 ITR 688 · 1991 · SC
- CIT v. Tata Elxsi Ltd.818 citing349 ITR 98 · 2012 · HC
- CIT v. Smifs Securities Ltd.540 citing348 ITR 302 · 2012 · SC
- CIT v. Kanpur Coal Syndicate359 citing53 ITR 225 · 1964 · SC · Read judgment
Income Tax Appellate Tribunal, “C” BENCH : BANGALORE
Before: SHRI N.V. VASUDEVAN & SHRI ABRAHAM P. GEORGE
Per N.V. Vasudevan, Judicial Member
ITA No.672/B/14 is an appeal by the Revenue, while ITA No.705/B/14 is an appeal by the assessee. Both these appeals are directed against the order dated 28.2.2014 of CIT(
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