https://www.taxtmi.com/caselaws?id=378237 The Tribunal dismissed the revenue's appeal challenging the deletion of the addition of Rs. 86,49,923 under Section 40A(2)(b) of the IT Act for purchase expenditure on software from a related party. The Tribunal found that the software purchased by the assessee was for resale, with some sold during the relevant year and the rest forming part of closing stock. It was noted that the software was customized as per user needs, and there was no evidence of excessive pricing. The decision of the Ld. CIT(A) to delete the addition was upheld. en-us Tue, 09 Apr 2019 00:00:00 +0530 Wed, 10 Apr 2019 15:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378237 The Tribunal dismissed the revenue's appeal challenging the deletion of the addition of Rs. 86,49,923 under Section 40A(2)(b) of the IT Act for purchase expenditure on software from a related party. The Tribunal found that the software purchased by the assessee was for resale, with some sold during the relevant year and the rest forming part of closing stock. It was noted that the software was customized as per user needs, and there was no evidence of excessive pricing. The decision of the Ld. CIT(A) to delete the addition was upheld. Case-Laws Income Tax Tue, 09 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378237