https://www.taxtmi.com/caselaws?id=428846 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s order to delete the addition made by the AO under Section 40(a)(ib) for non-charging of the Equalization levy. The Tribunal found that the transactions lacked a sufficient territorial nexus with India to attract the levy, as the clients and target audience for the advertisements were outside India. The Tribunal concluded that the disallowance was not sustainable as the conditions for the Equalization levy were not met, emphasizing the legislative intent and territorial nexus principles. en-us Fri, 07 Oct 2022 00:00:00 +0530 Mon, 09 Jan 2023 14:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428846 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s order to delete the addition made by the AO under Section 40(a)(ib) for non-charging of the Equalization levy. The Tribunal found that the transactions lacked a sufficient territorial nexus with India to attract the levy, as the clients and target audience for the advertisements were outside India. The Tribunal concluded that the disallowance was not sustainable as the conditions for the Equalization levy were not met, emphasizing the legislative intent and territorial nexus principles. Case-Laws Income Tax Fri, 07 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428846