2012 (9) TMI 1055

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....claimed that the Tribunal has failed to consider Ground No.2 raised by the revenue. Therefore, the order dated 22/5/2009 passed by the Tribunal in ITA No.61/Mum/2008 suffers from mistake which is apparent from record and should be rectified. 2. Following two grounds were taken by the revenue for consideration of the Tribunal in the aforementioned appeal: "(a) On the facts and in the circumstanc....

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....s. 10A without considering the facts brought out by the Assessing Officer emerging on scrutiny as mentioned in remand report u/s. 250(4)." 4. After noting the facts of the case Tribunal has disposed of the issue in favour of the assessee on the basis of Special Bench decision in the case of ACIT vs. Prakash L. Shah 306 ITR (AT) 80 (Mum) (SB), wherein it was held that the foreign exchange gain per....

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....₹ 50,689/- and foreign exchange fluctuation of ₹ 8,09,074/- has been considered by the assessee as income derived from business activity." 6. As it can be seen from the above observation, the AO did not exclude this amount from the eligible amount available for deduction under section 10A of the Act on the ground that the facts stated by the AO in the remand report were not taken into....