https://www.taxtmi.com/caselaws?id=443495 The Department's appeal regarding the disallowance of royalty under Section 43B of the Income Tax Act was dismissed, as the Tribunal upheld the CIT(A)'s decision that royalty had been paid before the return filing date. The appeal on the suppression of sale value and under-invoicing was also dismissed, with the Tribunal finding the transactions at arm's length. However, the appeal on the disallowance of conversion charges under Section 37(1) was allowed, as the expenses were deemed revenue in nature. Consequently, the Revenue's appeals were dismissed, and the assessee's appeal was allowed. en-us Thu, 21 Sep 2023 00:00:00 +0530 Sat, 23 Sep 2023 10:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443495 The Department's appeal regarding the disallowance of royalty under Section 43B of the Income Tax Act was dismissed, as the Tribunal upheld the CIT(A)'s decision that royalty had been paid before the return filing date. The appeal on the suppression of sale value and under-invoicing was also dismissed, with the Tribunal finding the transactions at arm's length. However, the appeal on the disallowance of conversion charges under Section 37(1) was allowed, as the expenses were deemed revenue in nature. Consequently, the Revenue's appeals were dismissed, and the assessee's appeal was allowed. Case-Laws Income Tax Thu, 21 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443495