COMMISSIONER OF INCOME TAX Vs. INFOSYS TECHNOLOGIES LTD

JUDGEMENT

(1.) The appeal by the Revenue under section 260A of the Income-tax Act, 1961 (for short, "the Act"), directed against the order dated October 5, 2006, passed in I. T. A. No. 3086/Bang/1995, by the Income-tax Appellate Tribunal, Bangalore Bench "A". The Revenue has raised the following substantial questions of law, is listed for hearing:

(2.) In so far as the second question is concerned, we reframe the question as under:

(3.) On this question, we have heard the learned counsel for the parties. It is submitted that in view of the subsequent decisions of this court and the Supreme Court and particularly in the case of ACG Associated Capsules Pvt. Ltd. v. CIT, 2012 343 ITR 89 and the issue is concluded holding that it should be the net of the receipts payable to these two types of receipts and not the gross. Accordingly, we answer this question in the affirmative and in favour of the assessee.