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2020 (11) TMI 958 - AT - Income TaxTP Adjustment - comparable selection - HELD THAT:- Assessee is engaged in the business of development and technical maintenance work in certain intellectual property and knowhow related to certain products and systems thus companies functionally dissimilar with that of assessee need to be deselected . Secondary and higher education cess is deductible as business expenditure under section 37 (1) -Additional ground raised by assessee - HELD THAT:- Nothing is discernible from the record to establish that assessee has raised the claim by way of revised return before Ld.AO. However we are of considered opinion that this is an allowable expenditure and has of assessee’s. Accordingly we remand this issue back to Ld.AO to consider the claim of assessee in accordance with law. Needless to say that proper opportunity of being heard must be granted to assessee. Accordingly this ground raised by assessee stands allowed for statistical purposes.
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