2018 (7) TMI 2166

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....lore, in IT[TP]A No.147/Bang/2015dated 21.04.2017, relating to the Assessment Year 2010-11. 2.The appeal has been admitted on 06.12.2017 to consider the substantial questions of law formulated at paras VI[2] and VI[3] in the appeal memorandum. However, learned counsel for the Revenue seeks to consider all the three substantialquestions of law framed in the memorandum of appeal. 3.The substantial questions of law framed by the Revenue in the Memorandum of Appeal are as under: "1. Whether, on the facts and circumstances of the case, the Tribunal is right in law in setting aside the re-computation of deduction under section 10A of the Act by following the decision ofthis Hon'ble High Court in the case of CIT V/s. Tata Elxsi which has not rea....

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....8] 93 Taxmann.com 33(SC). 5. The relevant portion of the judgment of the Hon'ble Supreme Court in the case of HCL Technologies Ltd. (supra), is quoted below for ready reference:- "17. The similar nature of controversy, akin this case, arose before the Karnataka High Court in CIT v. Tata Elxsi Ltd. [2012] 204 Taxman 321/17/taxman.com 100/349 ITR 98. The issue before the Karnataka High Court was whether the Tribunal was correct in holding that while computing relief under Section 10A of the IT Act, the amount of communication expenses should be excluded from the total turnover if the same are reduced from the export turnover? While giving the answer to the issue, the High Court, inter-alia, held that when a particular word is not defined by....

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....material on record. The comparability of this company has come up for consideration before the co-ordinate bench in relation to ITeS services company in the case of Equant Solutions India [P] Ltd., [supra]. The relevant paras are reproduced below: "xxxxxx" Therefore, we uphold the deletion of this company from the list of comparables. 23. Ground No.9 challenges the deletion of assessment of outstanding interest charged on outstanding debtors. On this issue, the DRP held as follows: "xxxxx" This issue has been adjudicated by the co-ordinate bench in the case of in ITA No.327/Bang/2015 dated 07.03.2017 in the case of ACIT V/s. M/s. Millipore [India] Ltd., wherein it has been held that the transaction of interest on outstanding debto....

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....ot, Filters for arriving at the correct list of comparables have been rightly applied or not, do not in our considered opinion, give rise to any substantial question of law. 56. We are therefore of the considered opinion that the present appeals filed by the Revenue do not give rise to any substantial question of law and the suggested substantial questions of law do not meet the requirements of Section 260-A of the Act and thus the appeals filed by the Revenue are found to be devoid of merit and the same are liable to be dismissed. 57. We make it clear that the same yardsticks and parameters will have to be applied, even if such appeals are filed by the Assessees, because, there may be cases where the Tribunal giving its own reasons and....