2014 (6) TMI 1094

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....Adv. For the Respondent : Sri Suryanarayana, Adv. For M/s. King & Patridge. JUDGMENT PER MR. JUSTICE N. KUMAR The Revenue has preferred this appeal challenging the order passed by the Income Tax Appellate Tribunal in ITA No. 249/Bang/2007 dated 27.11.2007. 2. The appeal is admitted for considering the following substantial question of law: "(1) Whether the tribunal was correct in hold....

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....holding that deduction u/s. 10A of the Act is allowable in respect of income computed on the arms length price by ignoring the proviso to Section 92(4) of the Act?" 3. In so far as substantial question of law No. 1 is concerned, this Court had an occasion to consider the same in the case of Commissioner of Income Tax and Another Vs. Tata Elxsi Ltd., & Others reported in (2012) 204 TAXMAN 32....