Case Law Details
CIT vs. HCL Technologies Ltd. (Supreme Court)
The definition of total turnover given under Sections 80HHC and 80HHE cannot be adopted for the purpose of Section 10A: HCL Technologies case
In CIT vs. HCL Technologies Ltd. [Civil Appeal Nos. 8489-8490 of 2013 and other appeals, decided on 24.04.2018], briefly, the Respondent – HCL Technologies Ltd. being a company registered under the Companies Act, 1956 was engaged in the business of development and export of computer softwares and rendering the technical services. The Respondent showed gross income from business at Rs. 267,01,76,529/- while claiming deductions under Section 10A of the Income Tax Act, 1961 (in short ‘the Act’) to the tune of Rs. 273,45,39,379/- showing a net loss of Rs. 6,43,62,850/-. The Respondent filed its return of income for the A.Y. 2004-05 on 01.11.2004 declaring the undisclosed income at Rs. 91,25,68,114/-. Thereafter, on 31.03.2005, a revised return of income for Rs. 91,16,99,060/- was filed by the Respondent which was selected for scrutiny under Section 143 of the Act.
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