- Saturday, January 14, 2012, 21:11
- Income Tax Case Laws
- 1,045 views
ACIT Vs. Symantec Software India P. Ltd. (ITAT Pune) - Based on the specific facts of the case, the Tribunal has reiterated that the fulfillment of the conditions of section 10A(2) is of utmost importance for claiming a deduction under section 10A. A reference to the new undertaking as expansion by the STPI would not dis-entitle the assessee from claiming a deduction under section 10A of the Act. This ruling re-emphasises the need for detailed factual submissions to be..
Full Article
- Sunday, December 25, 2011, 20:04
- Income Tax Case Laws
- 772 views
CIT v. EHPT India P. Ltd. (Delhi High Court)- Section 10A provides for deduction for profits derived from the export of software for a period of ten years. During the period of tax-holiday, it is desirable that the same method of computing the profits of the STP unit is adopted so that any distortion is avoided. We must however clarify that we are not to be understood as laying down as a proposition that in all cases arising under Section 10A, where the question of appo..
Full Article
- Monday, November 14, 2011, 6:48
- Income Tax
- 449 views
CIT vs. Yokogawa India Ltd (Karnataka High Court)- The High Court had to consider two issues for AY 2001-02 & onwards: whether (i) the loss incurred by a non-eligible unit & (ii) the brought forward unabsorbed loss & unabsorbed depreciation of the eligible unit has to be set-off against the profits of the eligible unit before allowing deduction u/s 10A/ 10B.
Full Article
- Thursday, October 6, 2011, 22:14
- Income Tax
- 115 views
CIT v. Electronic Controls & Discharge Systems (P) Ltd (Kerala High Court) - Benefit of deduction under Section 10A is not available in respect of sales made to a unit in Special Economic Zone even though such sales are considered as ‘deemed exports’ under the provisions of the Special Economic Zones Act, 2005.
Full Article
- Friday, June 17, 2011, 7:19
- Income Tax Case Laws
- 112 views
Convergys India Services Pvt Ltd Vs DCIT (ITAT Delhi) - In the present case, we note that gain is not on account of fluctuation in foreign exchange relating to assessee's export activities. The same is with respect to the external commercial borrowings. This cannot be termed as derived from the export activity of the assessee. The assessee's reliance in this regard on section 10A(4) does not come to its rescue, as the said sub-section only provides the formula for comput..
Full Article
- Monday, May 16, 2011, 5:39
- Income Tax Case Laws
- 44 views
The Karnataka High Court, in its recent ruling, in the case of CIT v. Expert Outsource Pvt. Ltd. held that deduction under section 10A of the Income-tax Act, 1961 is available to the assessee on conversion of existing Domestic Tariff Area (DTA) unit into a Software Technology Park (STP) unit.
Full Article
- Tuesday, January 25, 2011, 21:58
- Income Tax Case Laws
- 10 views
The above ruling provides that tax holiday under section 10A would be available to a foreign office, i.e. a branch carrying on-site software development only if it is a liaison office. An independent branch carrying out full -fledged marketing operat
Full Article
- Monday, October 25, 2010, 22:51
- Income Tax Case Laws
- 2 views
The Delhi bench of Income-tax Appellate Tribunal (the Tribunal) in the case of DDIT v. Virage Logic International (ITA No. 494(Del) 2010) held that transfer of a computer software by an Indian branch of a foreign company [approved as 100 percent Export Oriented Unit (EOU) by Software Technology Parks of India (STPI)] to its head office is a transaction eligible for claiming tax benefits under section 1 0A of the Income-tax Act, 1961 (the Act).
Full Article