ACIT v. Motorola India Electronics Private Limited (114 ITD 387)

HCL TECHNOLOGIES LTD.,NEW DELHI vs. ACIT, NEW DELHI

The appeal is allowed as indicated above

ITA 5465/DEL/2011[2007-08]Status: DisposedITAT Delhi15 Apr 2026AY 2007-08

Bench: Shri Vikas Awasthy & Shri Brajesh Kumar Singh

Section 10ASection 143Section 144Section 144C(13)

…c"on 10B(4) of the Act.” 67. The Hon’ble Karnataka High Court in case of CIT vs Motorola India Electronics (P) Ltd [2014] 265 CTR 94 (Kar) upheld the decision passed by the Bangalore bench of the Tribunal in ACIT vs Motorola India Electronics Private Limited 114 ITD 387 acknowledging the distinction in the computation mechanism given in section 10A(4) of the Act vis-à-vis the language of section 10A(1) of the Act. 68. In the said decision in Motorola India Electronics (P) Ltd (supra), it was held that interest earned on deposits held in EEFC account from export profits and on inter-corporate loans, pending util…

HCL TECHNOLOGIES LTD,NEW DELHI vs. ACIT, NEW DELHI

The appeal is allowed as indicated above

ITA 5624/DEL/2010[2006-07]Status: DisposedITAT Delhi15 Apr 2026AY 2006-07

Bench: Shri Vikas Awasthy & Shri Brajesh Kumar Singh

Section 10ASection 143Section 144Section 144C(13)

…c"on 10B(4) of the Act.” 67. The Hon’ble Karnataka High Court in case of CIT vs Motorola India Electronics (P) Ltd [2014] 265 CTR 94 (Kar) upheld the decision passed by the Bangalore bench of the Tribunal in ACIT vs Motorola India Electronics Private Limited 114 ITD 387 acknowledging the distinction in the computation mechanism given in section 10A(4) of the Act vis-à-vis the language of section 10A(1) of the Act. 68. In the said decision in Motorola India Electronics (P) Ltd (supra), it was held that interest earned on deposits held in EEFC account from export profits and on inter-corporate loans, pending util…

THE DY. COMMR. OF INCOME TAX, CIRCLE-1,, JAMNAGAR vs. M/S. DEEP RECYCLING IND.,, JAMNAGAR

In the result, both the appeals filed by the Revenue are dismissed

ITA 324/RJT/2015[2011-12]Status: DisposedITAT Rajkot08 Oct 2018AY 2011-12

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Praveen Verma, Sr. D.RFor Respondent: Shri Ankit Gokani, A.R

Section 10BSection 10B(4)

…le for deduction. ITA Nos.367 & 324/Rjt/2015 Deep Recycling Industries A.Ys. 2010-11 & 2011-12 4.3 The assessee in support of his claim also relied on the order of Karnataka High Court in the case of ACIT vs. Motarola India Electronics Pvt. Ltd. reported in 114 ITD 387. However, the AO disregarded the contentions of the assessee and held that the amount of interest income is chargeable to tax under the head income from other sources. Accordingly, the AO denied the exemption u/s 10B of the Act in respect of such interest income. 5. Aggrieved, assessee preferred an appeal to ld. CIT(A). The assessee before the l…

THE ACIT, CIRCLE-2,, JAMNAGAR vs. M/S. DEEP RECYCLOING INDUSTRIES,, JAMNAGAR

In the result, both the appeals filed by the Revenue are dismissed

ITA 367/RJT/2013[2010-11]Status: DisposedITAT Rajkot08 Oct 2018AY 2010-11

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Praveen Verma, Sr. D.RFor Respondent: Shri Ankit Gokani, A.R

Section 10BSection 10B(4)

…le for deduction. ITA Nos.367 & 324/Rjt/2015 Deep Recycling Industries A.Ys. 2010-11 & 2011-12 4.3 The assessee in support of his claim also relied on the order of Karnataka High Court in the case of ACIT vs. Motarola India Electronics Pvt. Ltd. reported in 114 ITD 387. However, the AO disregarded the contentions of the assessee and held that the amount of interest income is chargeable to tax under the head income from other sources. Accordingly, the AO denied the exemption u/s 10B of the Act in respect of such interest income. 5. Aggrieved, assessee preferred an appeal to ld. CIT(A). The assessee before the l…

UNIVERSAL PRECISION SCREWS,NEW DELHI vs. JCIT, NEW DELHI

ITA 1454/DEL/2015[2010-11]Status: DisposedITAT Delhi03 Oct 2018AY 2010-11

Bench: Hon’Ble, Shri G.D.Agrawal & Shri Kuldip Singhi.T.A. No.1454/Del/2015 (Assessment Years 2010-11)

For Appellant: Sh. Ashish Goel, CAFor Respondent: None (Sr. DR)

Section 10BSection 24

…2009) 31 SOT 323 (Mum) has held that interest derived by an exporter from fixed deposits made with the bank for obtaining credit limits is eligible for the benefit u/s 10A. Similar view has been expressed in ACIT vs. Motorola India Electricals (P) Ltd. (2008) 114 ITD 387 (Bang.) by holding that the interest income having close nexus with the business activity of the assessee is assessable as income from business and, hence, eligible for the benefit u/s 10A and section 10B. In view of the above discussion, we hold that the assessee is entitled to deduction u/s10B of the Act in respect of the interest income earned…

M/S. ZENITH EXPORTS LIMITED,KOLKATA vs. ACIT, CIRCLE-5, KOLKATA, KOLKATA

In the result, the appeal of the assessee is partly allowed

ITA 1845/KOL/2016[2006-07]Status: DisposedITAT Kolkata03 Feb 2017AY 2006-07

Bench: Shri P.M. Jagtap

Section 10BSection 143(3)Section 4

…observed that a similar issue in the assessee’s claim for deduction under section 10B in the context of interest income had come up for consideration before the Bangalore Bench of this Tribunal in the case of ACIT –vs.- Motorola India Electronics (P) Limited [114 ITD 387] and after taking into consideration the methodology provided in sub-section (4) for arriving at the export profits of the business of the Undertaking, it was held by the Tribunal that the entire profits derived from the business of Undertaking should be taken into consideration while computing profit eligible for deduction under section 10B by a…

ACIT v. Motorola India Electronics Private Limited