2022 (7) TMI 960

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....ounsel For Respondent : Mr.R.Venkatenarayanan And Mr.Subbaraya Aiyar JUDGMENT R.MAHADEVAN, J. This tax case appeal has been filed by the appellant / Revenue, challenging the order dated 18.12.2015 passed by the Income Tax Appellate Tribunal, 'A' Bench, Chennai, in I.T.A.No.1523/Mds/2015, relating to the assessment year 2009-10. 2. By order dated 05.12.2017, this court admitt....

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....ividend income? 3. Today, when the appeal was taken up for consideration, the learned counsel appearing for the appellant fairly submitted that the substantial questions of law raised herein have been decided in favour of the assessee, in the decision of the Hon'ble Supreme Court in Commissioner of Income Tax vs. HCL Technologies Ltd., [(2018) 404 ITR 719 (SC)], the relevant passage of whic....

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.... be excluded from 'total turnover', since one of the components of 'total turnover' is export turnover. Any other interpretation would run counter to the legislative intent and would be impermissible. 18. Accordingly, the formula for computation of the deduction under Section10A of the Act would be as follows: Export Profit = total Profit of the Business X Export turnover as defi....

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.... Otherwise, any other interpretation makes the formula unworkable and absurd. Hence, we are satisfied that such deduction shall be allowed from the total turnover in same proportion as well. 21. On the issue of expenses on technical services provided outside, we have to follow the same principle of interpretation as followed in the case of expenses of freight, telecommunication etc., othe....