Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2020 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (2) TMI 778 - AT - Income TaxDeduction u/s 80O - any income received by the assessee from the Government of a foreign State or foreign enterprise in consideration for the useoutside India of any patent, invention, design or registered trade mark - HELD THAT:- We are of the considered opinion that no addition would be sustainable in law merely on the basis of suspicion, conjectures or surmises. The assessee had placed on record sufficient documentary evidences to substantiate its claim u/s 80-O with respect to services rendered to MLINT. The claim was duly supported by the confirmatory letter of MLINT as well as RBI approval letter which specifically prohibited devolvement of foreign exchange to the assessee. On the contrary, except for mere suspicion & allegation, nothing was brought on record by AO to counter the assessee’s claim. It is beyond doubt that the assessee was acting as co-lead manager in the aforesaid issues but the allegations of AO that the fee was received in that capacity through MLINT is without any corroborative evidences. Therefore, the conclusion of CIT(A) could not be faulted with and hence concurring with the same, we dismiss the appeal filed by the revenue.
|