2019 (5) TMI 633

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ala Devi for Mr.R.Vijayaraghavan For the Respondent : Mrs.Premalatha, Standing Counsel. JUDGMENT (BY DR.VINEET KOTHARI,J.) Assessee has filed this Appeal under Section 260A of the Income Tax Act,1961, in short, 'Act', aggrieved by the order, dated 14.08.2008, partly allowing the Appeal filed by the Revenue and setting aside the order passed by the learned Commissioner of Income....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... contingent and notional and hence not allowable as deduction ?'' 3. On the above questions admitted by this Court, Ms.M.Parimala Devi, learned counsel for the Assessee, representing Mr.R.Vijayaraghavan, has submitted that the learned Tribunal, in Paragraph 2.2 of its order, had relied upon a judgment rendered by the Uttarakhand High Court in the case of Commissioner of Income Tax v. Oi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....0B of the Act on the export turnover, learned counsel for the Assessee raised certain issues, which were in the suggested questions, which are quoted below for ready reference : ''1. Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the expenses between the STP and Non-STP divisions should be distributed on turnover basis ? ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....al, we are of the opinion that the matter deserves to be restored back to the learned Tribunal for considering the entire appeal filed by the Revenue de novo, in view of the subsequent development of law by the aforesaid judgment of the Hon'ble Supreme Court in the case of Oil & Natural Gas Corporation Limited, cited supra, and also other case laws, which the Assessee may rely upon, for the pu....