https://www.taxtmi.com/caselaws?id=419409 The Tribunal ruled in favor of the assessee in appeals concerning the taxability of revenue from the sale of software, application of tax rate on alleged royalty income, and initiation of penalty proceedings under section 271(1)(c) of the Income-tax Act. The Tribunal held that revenue from software sales constituted business income, not royalty income, directed the application of a lower tax rate on alleged royalty income, and instructed deletion of the penalty proceedings against the assessee. en-us Mon, 14 Feb 2022 00:00:00 +0530 Thu, 10 Mar 2022 18:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419409 The Tribunal ruled in favor of the assessee in appeals concerning the taxability of revenue from the sale of software, application of tax rate on alleged royalty income, and initiation of penalty proceedings under section 271(1)(c) of the Income-tax Act. The Tribunal held that revenue from software sales constituted business income, not royalty income, directed the application of a lower tax rate on alleged royalty income, and instructed deletion of the penalty proceedings against the assessee. Case-Laws Income Tax Mon, 14 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419409