2023 (8) TMI 457

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....MR. JUSTICE T.G. SHIVASHANKARE GOWDA For The Appellants (By Shri. E.I. Sanmathi, Standing Counsel) For The Respondent (By Shri. T. Suryanarayana, Senior Advocate For Ms. Tanmayee Rajkumar, Advocate) JUDGMENT P.S. DINESH KUMAR, J.,   This appeal by the Revenue is directed against order dated July 19, 2019 in ITA No. 1080/Bang/2019 passed by the ITAT [Income Tax Appellate Tribuna....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... i) Stock compensation expense; ii) Treatment of state taxes paid in USA; iii) Foreign remittance without deducting TDS; and iv) Lease of Sasken brand to related parties free of cost. 4. In substance, the argument canvassed by the Revenue is that the CIT(A), in his order passed under Section 263 of the Act [Income Tax Act, 1961], has rightly directed the AO fo....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....as noticed that the assessee had not offered the tax on the stock compensation on the previous year and AY. 2014-15, the assessee has offered the same to tax. This aspect was misconstrued by the CIT(A) to the effect that the assessee was claiming expenditure. The ITAT has rightly analyzed and held that there was no ground for revision under Section 263. 8. The second issue is with regard to pay....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....TAT's order. 9. The third issue is regarding foreign remittance without deducting TDS. The ITAT has recorded that the AO has taken a 'possible view' on this aspect after 'due enquiry and application of mind'. Similarly, with regard to the fourth issue namely, lease of 'Sasken brand' to related parties free of cost, the AO has taken a 'possible view'. 10. In the authority relied upon by the R....