2021 (11) TMI 536

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...., ADV.)   RESPONDENT (BY SRI T. SURYANARAYANA, ADV.)   J U D G M E N T S. SUJATHA, J., This appeal is filed by the Revenue under Section 260A of the Income Tax Act, 1961 ('Act' for short) assailing the order dated 05.12.2018 passed in ITA No.1516/Bang/2017 by the Income Tax Appellate Tribunal, 'C' Bench, Bengaluru ('Tribunal' for short) relating to the assessment year 2010-11. 2. T....

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....holding that the same can be considered as part of export turnover by relying upon the decision of this Hon'ble High Court in Wipro Ltd v/s CIT in ITA No.879 of 2008 dt: 25-3-2015 even though the assessing authority rightly reduced the said amount from export turnover since the said amount was not realized in foreign currency before the due date of filing the return of income?" 3. Learned counsel....

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....dinate bench of this Court, we have no reason to differ from the same and accordingly, the substantial question of law No.1 is answered in favour of assessee and against the Revenue.   6. Regarding substantial question of law No.2, learned counsel for the Revenue made an attempt to distinguish the judgment of the Co-ordinate Bench of this Court in the case of Wipro Ltd., vs. Deputy Commissio....

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....urn of income. 8. We have perused the judgment of the Coordinate bench of this Court in Wipro Ltd., supra, wherein their lordships have categorically observed that after the period of six months, if foreign exchange remittances are received and credited to the assessee's account through the Reserve Bank of India and in this context, merely because the written approval of extension was not passed ....