2024 (12) TMI 1176

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....ed on 03.08.2015 are as follows:- (i) Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in deleting the additions made by the AO towards the loss on account of foreign exchange fluctuation while computing deductions under Section 10 A? (ii) Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in holding that the telecommunication expenditure should be excluded both from the export turnover and the total turnover for the purpose of computing deduction u/s 10A? 3. Learned counsel would straight away submit that the issue arising in substantial question no.2 is covered by a judgment of the Supreme Court in the case of Com....

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....the case of expenses of freight, telecommunication etc., otherwise the formula of calculation would be futile. Hence, in the same way, expenses incurred in foreign exchange for providing the technical services outside shall be allowed to exclude from the total turnover. 22) In view of above discussion, we are of the considered view that these instant appeals are devoid of merits and deserve to be dismissed. Accordingly, all the connected matters and interlocutory applications, if any, are disposed of with no order as to costs." 4. As far as the issue arising from question no.1 is concerned, we find that the same has been decided against the assessee by order of the Commissioner of Tax (Appeals) dated 15.09.2011. That order has a....