2013 (9) TMI 396

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....oner : Shri Vikram Vijayaraghavan, Advocate For the Respondent : Dr. S. Moharana, IRS, CIT ORDER Per Dr. O. K. Narayanan, Vice President These four appeals relate to the assessment years 2005-06 and 2006-07. Two appeals are filed by the assessee and two appeals are filed by the Revenue. The appeals are directed against the orders of the Commissioner of Income-tax (Appeals)- V at Chennai dat....

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.... the Commissioner of Income-tax(Appeals) has erred in allowing deduction under sec.10A before setting off of brought forward depreciation and losses. This issue was considered and decided by the Income-tax Appellate Tribunal, Chennai Bench in favour of the assessee, in the case of M/s. Scientific Atlanta India Technology Pvt. Ltd. (129 TTJ 273). 5. The Revenue has referred to a decision of the Ka....

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....he decisions of the Hon'ble Karnataka High Court, we hold that the Commissioner of Income-tax(Appeals) has arrived at a right conclusion. This issue is decided against the Revenue. 8. The second issue raised by the Revenue is that the Commissioner of Income-tax(Appeals) has erred in excluding expenditure incurred in foreign currency both from export turnover and total turnover. This issue already....