{"id":51862,"date":"2025-03-18T10:50:31","date_gmt":"2025-03-18T05:20:31","guid":{"rendered":"https:\/\/itatonline.org\/digest\/virtusa-consulting-services-p-ltd-v-dy-cit-2024114-itr-386-chennaitrib\/"},"modified":"2025-03-18T10:50:31","modified_gmt":"2025-03-18T05:20:31","slug":"virtusa-consulting-services-p-ltd-v-dy-cit-2024114-itr-386-chennaitrib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/virtusa-consulting-services-p-ltd-v-dy-cit-2024114-itr-386-chennaitrib\/","title":{"rendered":"Virtusa Consulting Services P. Ltd. v. \u00a0Dy. CIT (2024)114 ITR 386 (Chennai)(Trib)"},"content":{"rendered":"<p>Held\u00a0 that none of the authorities had considered the facts and dealt with the issue in proper perspective with regard to the assessee\u2019s claim that deduction under section\u00a010A\u00a0was erroneously made due to the exclusion of foreign currency expenditure from the export turnover. As the issue needed verification, it was restored to the Assessing Officer for a decision in terms of the principle laid down by the Tribunal in the assessee\u2019s own case for an earlier assessment year. \u00a0\u00a0That the Assessing Officer was directed to verify whether refund had been issued to the assessee and, if so, the interest charged thereon under section\u00a0234D. Disallowance under section 14A is remanded. (AY.2009-10)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 10A : Free trade zone-Foreign currency expenditure from export turnover-Refund-Interest on refund-Disallowance of expenditure-Exempt income-Interest-Matter remanded-Matter remanded. [S. 14A, 234D]  <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-51862","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-duu","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51862","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=51862"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51862\/revisions"}],"predecessor-version":[{"id":51863,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51862\/revisions\/51863"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=51862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=51862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=51862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}