DCIT, BANGALORE vs. M/S ASM TECHNOLOGIES LIMITED, BANGALORE

ITA 524/BANG/2015Status: DisposedITAT Bangalore30 July 2015AY 2010-113 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the jurisdictional High Court's decision in CIT v. Tata Elxsi Ltd. is binding. Therefore, expenses excluded from export turnover must also be excluded from total turnover for calculating Section 10A deduction.

What were the facts?

The revenue appealed against the CIT(Appeals)'s order directing the exclusion of foreign currency expenses attributable to software delivery outside India from total turnover for Section 10A deduction. The AO argued these expenses should not be excluded from total turnover as per Section 10A's definition of export turnover.

What were the issues?

Whether foreign currency expenses attributable to software delivery outside India should be excluded from total turnover when computing deduction under Section 10A, following the exclusion from export turnover.

Which sections of the Income-tax Act were involved?

Section 10A

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Income Tax Appellate Tribunal, “C” BENCH : BANGALORE

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

For Appellant: Shri Sunil Kumar Agarwal, Jt. CIT(DR)
For Respondent: Shri Suresh Muthukrishnan, CA
Hearing: 27.07.2015Pronounced: 30.07.2015

Per N.V. Vasudevan, Judicial Member

This appeal by the revenue is against the order dated 23.02.2015 of the CIT(Appeals)-I, Bangalore relating to assessment year 2010-11. 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 the revenue from deputation of staff and other foreign currency expenses attributable to delivery of software outside India from the total turnover also while computing deduction u/s. 10A of the Act.

3.

According to the AO, as per the definition of export turnover given in clause (iv) to Explanation 2, the above income/ex

The order continues below.

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