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Judgment
The Revenue has preferred the present appeals by raising the following substantial question of law; "1. Whether the Tribunal was correct in holding that the expenses reduced from the export turnover has to be reduced from the total turnover also since no provision under section 10A provides for exclusion of such expenses from the total turnover?
Whether the Tribunal was correct in upholding the decision of the appellate Commissioner in not allowing set-off of losses of earlier years before deduction under section 10A of the Act?"
We have heard Mr. Aravind K V, learned counsel appearing for the Revenue.
It appears that so far as question No.1 is concerned, the matter is already covered by the decision of this Court in the case of Commissioner of Income Tax and another vs. Tata Elxsi Limited reported in 349 ITR 98. Hence, the said question would no more remain as a substantial question of law.
So for as the above referred question No.2 is concerned, the matter is covered by the earlier decision of this Court in the case of Commissioner of Income Tax and another vs. Yokogawa India Limited reported in 341 ITR 385. Further, the matter was carried by the Revenue before the Apex Court against the above referred decision of this Court and the Apex Court vide its order in the case of Yokogawa India Limited reported in 391 ITR 274 (SC) has disposed of the appeals.
Under the circumstances, question No.2 also would not remain as a substantial question of law. Hence, the appeals are dismissed.