2019 (1) TMI 1887

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....that corporate tax issues as mentioned at page 5 and 6 of the order of the Tribunal dt.11.12.2017, have not been adjudicated and submitted that the order of the Tribunal is required to be recalled for adjudicating the same. 03. On the other hand the Ld. DR relied upon the order passed by the Tribunal. 04. We have heard the rival contentions and perused the record. We find that the Tribunal after recording the grounds at page 5 and 6, as under : has not adjudicated the grounds relating to Corporate tax issues. 05. Accordingly the order dt.11.12.2017, passed by the Tribunal is recalled for the limited purpose of adjudicating the corporate tax issues mentioned above. Registry is directed to post the appeal for hearing in the due co....

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....My reasoning for the same in the assessment order. 2. The Ld. AO erred in reducing the foreign exchange gain of Rs. 95,81,206 from the export turnover for the purpose of computing the deduction under section 10A. Document 2 2.3. Notwithstanding and without prejudice to the above, the Ld. AO ought to have appreciated that, in the assessment order of the previous year (i.e. AY 2010-11), the Ld. AO had reduced the foreign exchange loss from export turnover, and accordingly the adjustment done during the current year (AY 2011-12) has resulted into an inconstancy in the treatment of foreign exchange loss/gain. The Ld. AO ought to have appreciated that if foreign exchange loss is reduced from the export turnover, foreign ex....