The Commissioner Of Income Tax - V, Pune v. Capegemini India Private Limited

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1657 OF 2010 The Commissioner of Income Tax - V, Pune Versus Capegemini India Private Limited ..Appellant. ..Respondent. Mr.Vimal Gupta for the appellant.Mr.Jitendra Jain with Mr.Atul K. Jasani for the respondent. CORAM : J.P. Devadhar & Smt.R.P. Sondurbaldota, JJ. DATE : 8[th] June, 2011. P.C. : 1.In the return of income filed for assessment year 2003-04, the assessee had excluded the foreign currency expenses, tele-communication and satellite link charges and insurance expenses from the export turn-over as also the total turn-over for the purpose of computing deduction under Section 10A of the Income Tax Act, 1961. 2.The Assessing Officer, however, held that even though the assessee has claimed that the aforesaid expenses are excluded from the export turn-over, as per the definition, the said amount of expenditure have to be again reduced from the export turn-over. The Tribunal by the impugned order held that once the aforesaid expenses are excluded from the export turn-over, there is no question of reducing those amounts once again from the export turn-over. The decision of the Tribunal is, in our opinion, in accordance with law because, once it is accepted that the export turn-over computed by the assessee excludes the aforesaid expenses, then the question of further reducing the export turn-over by the said expenses does not arise at all. In the result, we see no merit in the appeal and the same is hereby dismissed with no order as to costs. (Smt.R.P. Sondurbaldota, J.) (J.P. Devadhar, J.)