COMMISSIONER OF INCOME TAX Vs. PENTASOFT TECHNOLOGIES LTD

JUDGEMENT

(1.) The Revenue has come forward with this appeal and the question of law raised reads as under:

(2.) The short question that arises for consideration is 'whether due to diminish in Rupee value, the respondent-assessee gained a higher sum in Rupee value while earning foreign exchange and the said difference in Rupee value was allowable as a deduction under Section 10A of the Income-Tax Act, 1961.

(3.) Though the Assessing Officer as well as the Commissioner of Income-tax (Appeals) disallowed the said claim, the Tribunal dealt with the said issue as under in paragraph-10: