The High Court answered in favour of the assessee the questions whether the Tribunal was right in holding that the deduction under section 10A of the Income-tax Act, 1961 was to be allowed in respect of provisions written back, that the gains on foreign exchange fluctuation were eligible for deduction under section 10A, and that the communication charges were to be excluded both from the total turnover and the export turnover while computing deduction under section 10A. SLP of the Revenue is dismissed. Referred, CIT v. Hewlett Packard Global Soft Ltd (2018) 403 ITR 453 (Karn)(HC), CIT v. Hewlett Packard Global Soft Ltd (2019) 417 ITR 59 (SC)(St). (AY. 2002-03)
CIT v. Cognizant Technology Solutions Of India Pvt. Ltd. (2023)454 ITR 1 / 293 Taxman 500 (SC) Editorial : CIT v. Cognizant Technology Solutions of India Pvt. Ltd (Mad)(HC)(TCA No. 83 of 2017 dt. 20-11-2020)
S. 10A : Free trade zone-Provisions written back-Gains on foreign exchange fluctuation-Entitle to exemption-Turnover-Communication charges-SLP of Revenue is dismissed. [Art. 136]