THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND THE HON’BLE SRI JUSTICE M.S. RAMACHANDRA RAO
I.T.T.A. No. 502 of 2014
DATED:31.07.2014 Between:
The Commissioner of Income Tax (Central), Hyderabad.
… Appellant And M/s. Aurobindo Pharma Ltd., Hyderabad.
….Respondent THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND THE HON’BLE SRI JUSTICE M.S. RAMACHANDRA RAO
I.T.T.A. No. 502 of 2014
Judgment: (per the Hon’ble the Chief Justice Sri Kalyan Jyoti Sengupta) We have heard Mr. J.V. Prasad, learned counsel for the appellant and have gone through the impugned judgment and order of the learned Tribunal dated 29.11.2013 in relation to assessment year 2008-09, which is sought to be appealed against on the following suggested question of law:
Whether on the facts and in the circumstances of the case and in law, the Hon’ble Tribunal is correct in directing the AO to exclude the freight charges both from Export turnover and Total Turnover, though such an adjustment to the total turnover is not contemplated in provisions laid down in Section 10B of the Income Tax Act, 1961 ?
It appears, the learned Tribunal has followed the decision of the Special Bench in the case of Saksoft Ltd., reported in 30 SOT 55, (Chennai), on identical issue and the issue was decided in favour of the assessee. It does not appear that the aforesaid decision of the learned Tribunal has been reversed or questioned before any forum. Hence, we think that the learned Tribunal has correctly applied the law following the rule of consistency.
We, therefore, dismiss this appeal.
K.J. SENGUPTA, CJ M.S. RAMACHANDRA RAO, J 31st July, 2014 Pnb