https://www.taxtmi.com/caselaws?id=766523 ITAT (DELHI - AT) set aside PCIT's revision directions under s.263, largely upholding the assessment officer's conclusions and allowing the assessee's contentions. Interest and penalty on delayed license-related payments were held compensatory and revenue in nature. Carry forward of business losses and unabsorbed depreciation for the consumer wireless undertaking under s.72A was upheld. No deemed income under s.56(2)(x) arose on acquisition by demerger. Transfer pricing and TDS/disallowance issues were not disturbed where the AO had examined them; s.14A and other alleged defects were found either examined or not warranting interference. en-us Fri, 21 Feb 2025 00:00:00 +0530 Fri, 31 Oct 2025 16:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766523 ITAT (DELHI - AT) set aside PCIT's revision directions under s.263, largely upholding the assessment officer's conclusions and allowing the assessee's contentions. Interest and penalty on delayed license-related payments were held compensatory and revenue in nature. Carry forward of business losses and unabsorbed depreciation for the consumer wireless undertaking under s.72A was upheld. No deemed income under s.56(2)(x) arose on acquisition by demerger. Transfer pricing and TDS/disallowance issues were not disturbed where the AO had examined them; s.14A and other alleged defects were found either examined or not warranting interference. Case-Laws Income Tax Fri, 21 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766523