2015 (11) TMI 981

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... for the appellant. V. S. Jayakumar for the respondent. ORDER The order of the Bench was delivered by 1. A. Mohan Alankamony (Accountant Member).-This appeal is filed by the Revenue, aggrieved by the order of the learned Commissioner of Income-tax (Appeals)-11, Chennai dated December 30, 2014 in I. T. A. No. 1146/2013-14 passed under section 143(3) read with section 250 of the Income-t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... assessee is a company and 100 per cent. export oriented undertaking, engaged in the business of sale of loose leaf, ring metals/metal binders, filed its return of income on October 26, 2007 admitting income as Rs. 17,42,830. Subsequently the case was taken up for scrutiny and assessment was completed under section 143(3) read with section 92CA(4) of the Act on December 31, 2010 wherein the learne....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....red locally and hence, the question of disallowing the same does not arise. Further, the authorised representative relied on the decisions of the hon'ble Income-tax Appellate Tribunal in the case of Patni Telecom P. Ltd. v. ITO [2008] 22 SOT 38 (Hyd). Without prejudice to the above, he submitted that in case it should be excluded from the purpose of export turnover, the same should be excluded....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n out of abundant caution, because the Revenue has carried the matter before the hon'ble High Court of Madras and the matter is pending. The learned authorised representative on the other hand, reiterated the submissions made before the learned Commissioner of Income-tax (Appeals) and relied on the decision of the Special Bench of the Income-tax Appellate Tribunal, Chennai, in the case of ITO ....