https://www.taxtmi.com/caselaws?id=752450 Bombay HC upheld Revenue's position on interest levy u/s 234B following SC precedent in Manasarovar Commercial case. Regarding deduction u/s 80-O, HC denied appellant's claim for providing commercial expertise to foreign entity. Court found appellant merely shared newspaper cuttings rather than specialized commercial knowledge as required. Despite CCIT approval based on appellant's representations of providing analyzed information from user departments, actual performance involved only freely available newspaper content without written analysis or reports. HC ruled appellant failed to demonstrate genuine commercial expertise sharing and AO was justified in rejecting deduction claim. en-us Tue, 07 May 2024 00:00:00 +0530 Wed, 28 Aug 2024 12:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752450 Bombay HC upheld Revenue's position on interest levy u/s 234B following SC precedent in Manasarovar Commercial case. Regarding deduction u/s 80-O, HC denied appellant's claim for providing commercial expertise to foreign entity. Court found appellant merely shared newspaper cuttings rather than specialized commercial knowledge as required. Despite CCIT approval based on appellant's representations of providing analyzed information from user departments, actual performance involved only freely available newspaper content without written analysis or reports. HC ruled appellant failed to demonstrate genuine commercial expertise sharing and AO was justified in rejecting deduction claim. Case-Laws Income Tax Tue, 07 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752450