2016 (8) TMI 23

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....erein that the records for the AY 2010- 11 could not be traced out immediately, due to which, the said delay occurred in filing the appeal. The assessee also filed an affidavit affirming the said reasons in the affidavit. After considering the submissions of the assessee, we condone the said delay and admit the appeal for hearing and adjudication. 3. Briefly the facts of the case are that the assessee company engaged in development, sale of software products through world wide web, filed its return of income for the AO 2010-11 on 30/09/2010 declaring income at Rs. 73,555/- after claiming deduction u/s 10A and book profits of Rs. 4,35,73,535/- u/s 115JB. 3.1 The AO noted that on examining the return and computation of income filed by t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nover for the purpose of 10A. Accordingly, the allowable deduction u/s 10A was arrived at Rs. 2,43,97,528/- against Rs. 4,21,76,012/- claimed by the assessee. 4. Aggrieved by the order of the AO, the assessee preferred an appeal before the CIT(A). 5. Before the CIT(A), it was contended by the assessee that the AO has erred in reducing advertisement, webhosting charges etc., incurred in foreign currency from the export turnover ignoring the fact that the same were not claimed separately in the invoices and hence the AO is not justified in reducing the expenditure incurred in foreign currency only from the export turnover and he ought to have reduced the foreign currency expenditure also from the total turnover. 6. The CIT(A) after c....