2014 (1) TMI 658

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....eyas Mehrotra, Adv. For the Respondent : Mr. Gourab Banerji, ASG Mr. Arijit Prasad, Adv. Ms. Tanushree Sinha, Adv. For Mrs Anil Katiyar,Adv. ORDER In C.I.T.-II, Ahmedabad, Gujarat vs. M/s. Mastek Ltd., a three-Judge Bench of this Court in the order dated 4.3.2013 observed as follows: "We find that appeal filed by the Revenue under Section 260A of the Income Tax Act, 1961 (for short, 'A....

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....e substantial question(s) of law at the time of hearing of the appeal other than the questions on which appeal has been admitted remains under Section 260A(4). This power is subject, however, to two conditions, (one) the Court must be satisfied that appeal involves such questions, and (two) the Court has to record reasons therefor." 2. Mr. C.S. Agarwal, learned senior counsel of the petitioner ....

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....f the case and on the true and correct interpretation of Section 10A(1) read with section 10A(4) of the Act, in holding that the petitioner is not entitled to deduction under Section 10A of the Income Tax Act, 1961 in respect of foreign exchange fluctuation gain amounting to Rs. 3,52,90,374/- arising on external commercial borrowings for meeting working capital requirements? B. Whether the Inco....