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Section 115J3 Section 10A3 Section 251(1)(a)2 Section 41(1)2

DY. COMMISSIONER OF INCOME TAX , CIRCLE-2(2), HYDERABAD vs. HSBC ELECTRONIC DATA PROCESSING INDIA PRIVATE LIMITED, , HYDERABAD

In the result, the appeal filed by the Revenue is dismissed

ITA 1632/HYD/2017[2010-11]Status: DisposedITAT Hyderabad05 Aug 2024AY 2010-11

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri Rajan Vora, C.AFor Respondent: : Shri Kumar Pranav, CIT-DR

Section 10ASection 115Section 115JSection 251(1)(a)Section 37(1)Section 41(1)

68,32,843 from export turnover not `derived `from export activity, without considering the foreign exchange fluctuation loss and considering only the net foreign exchange gain of Rs.63,66,53,406. 23. The Hon'ble CIT(A) in para 12 of its order held that the assessee had loss in realisation of export proceeds due to foreign exchange fluctuation