https://www.taxtmi.com/caselaws?id=761243 ITAT Bangalore allowed the assessee's appeal on two issues. First, the tribunal held that no disallowance under section 40(a)(i) can be made for depreciation on computer software merely because TDS was not deducted on software payments, following a coordinate bench precedent. Second, regarding addition under section 28(iv) for assets received free from associated enterprises, the tribunal ruled that testing equipment imported temporarily and subsequently returned or destroyed does not constitute taxable benefit, especially when transfer pricing for related services was already resolved through MAP between Indian and Korean authorities. en-us Tue, 22 Oct 2024 00:00:00 +0530 Wed, 06 Nov 2024 10:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761243 ITAT Bangalore allowed the assessee's appeal on two issues. First, the tribunal held that no disallowance under section 40(a)(i) can be made for depreciation on computer software merely because TDS was not deducted on software payments, following a coordinate bench precedent. Second, regarding addition under section 28(iv) for assets received free from associated enterprises, the tribunal ruled that testing equipment imported temporarily and subsequently returned or destroyed does not constitute taxable benefit, especially when transfer pricing for related services was already resolved through MAP between Indian and Korean authorities. Case-Laws Income Tax Tue, 22 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761243