https://www.taxtmi.com/caselaws?id=311579 ITAT Bangalore dismissed the assessee's appeal on two grounds. First, regarding provision for non-moving/obsolete stock disallowed by AO, the tribunal found the assessee failed to substantiate the nature of obsolete goods, their cost, and net realizable value despite claiming compliance with AS 2. The matter was restored to AO for verification of accounting treatment and examination of filed statements. Second, on non-deduction of TDS on payments to non-residents, the tribunal upheld CIT(A)'s decision that payments constituted fee for technical services under section 9(1)(vii) as non-resident agents required technical expertise to check product quality, rejecting the assessee's claim of mere commission payments. en-us Thu, 25 Apr 2019 00:00:00 +0530 Thu, 04 Jan 2024 05:33:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311579 ITAT Bangalore dismissed the assessee's appeal on two grounds. First, regarding provision for non-moving/obsolete stock disallowed by AO, the tribunal found the assessee failed to substantiate the nature of obsolete goods, their cost, and net realizable value despite claiming compliance with AS 2. The matter was restored to AO for verification of accounting treatment and examination of filed statements. Second, on non-deduction of TDS on payments to non-residents, the tribunal upheld CIT(A)'s decision that payments constituted fee for technical services under section 9(1)(vii) as non-resident agents required technical expertise to check product quality, rejecting the assessee's claim of mere commission payments. Case-Laws Income Tax Thu, 25 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311579