2018 (11) TMI 269

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....he Respondent : Mr.Karthik Ranganathan JUDGMENT T.S.SIVAGNANAM J. We have heard the learned counsel on either side. 2. The Revenue preferred this appeal challenging the order passed by the Income Tax Appellate Tribunal dated 12.5.2008 in ITA.No.465/Mds/2007 for the assessment year 2003-04. 3. The above appeal has been admitted on 19.8.2008 on the following substantial questions of l....

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....rive at the export turnover, the same is not liable to be deducted from the total turnover to arrive at the denominator in the formula ?" 4. The learned counsel for the appellant fairly submits that substantial question of law No.1, as framed above, cannot be answered in the light of the fact that the assessee has been granted the benefit under Section 10A of the Income Tax Act, 1961 and that t....

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....+ domestic sale proceeds 19. In the instant case, if the deductions on freight, telecommunication and insurance attributable to the delivery of computer software under Section10A of the IT Act are allowed only in Export Turnover but not from the Total Turnover, then, it would give rise to inadvertent, unlawful, meaningless and illogical result which would cause grave injustice to the resp....

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.... technical services outside shall be allowed to exclude from the total turnover. 22. In view of above discussion, we are of the considered view that these instant appeals are devoid of merits and deserve to be dismissed. Accordingly, all the connected matters and interlocutory applications, if any, are disposed of with no order as to costs." 8. In view of the above, the third ....