2015 (10) TMI 2234

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....RDER Per Shri Jason P Boaz, AM. This appeal by the assessee is directed against the final order of assessment for Assessment Year 2006-07 passed under Section 143(3) rws 144C(13) of the Income Tax Act, 1961 (in short 'the Act') vide order dt.29.10.2010 in pursuance to the directions of the Dispute Resolution Panel ('DRP'), Bangalore issued under Section 144C of the Act dt.29.9.20....

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....ement of expenses received 1,55,274. The TPO after examination of the matter, passed an order under Section 92CA of the Act dt.30.10.2009 wherein he proposed a T.P. Adjustment of Rs. 32,56,440 to the software development services segment of the assessee. 2.2 In consequence thereof, the Assessing Officer passed a draft assessment order dt.23.12.2009, inter alia, including the proposed T.P. Adjus....

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.... "1. The Assessing Officer taking the natural meaning of the word Total Turnover for computing the deduction under Section 10A is against equity and law. 2. The Assessing Officer erred in not considering the Hon'ble ITAT order in the appellant's case pertains to the Assessment Year 2003-04 even though the same has been highlighted. 3. The Dispute Resolution Panel also endorsing the As....

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.... claim for deduction under Section 10A of the Act by excluding the aforesaid expenses from both export turnover as well as total turnover which was not accepted by the Assessing Officer who proceeded to recompute the deduction under Section 10A of the Act by reducing the aforesaid expenses incurred in foreign currency from the Export Turnover only. The assessee submits that the aforesaid expenses ....