2024 (8) TMI 462

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....been raised by the assessee: "1.1 Under the facts and circumstances of the case, the Final Order passed by the Ld. AO pursuant to the directions passed by the Hon'ble DRP is erroneous and contrary to the law. 1.2 Under the facts and circumstances of the case, the Ld. AO and the Hon'ble DRP has erred in law and on facts, by assessing the total income of the Appellant at INR 57,57,83,403/- for AY 2021-22 as against INR 2,00,65,855/- income returned by the Appellant. 2. Taxability of consideration received from subscription from use of standard software application as royalty under the Income Tax Act, 1961 ('the Act") read with Article 12 of the India - Ireland Double Tax Avoidance Agreement ("DTAA") ....

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....#39;ble DRP have erred in fact and in law in not considering the prevalling precedents of the Hon'ble jurisdictional Delhi High Court and Hon'ble jurisdictional Delhi Income Tax Appellate Tribunal. 2.6 That the Ld. AO erred in facts and in law by placing reliance on case laws which are distinguishable both on facts and merits. 3. Short grant of Tax Deducted at Source ("TDS") credit by INR 1,749/- 3.1 That on the facts and in the circumstances of the case, the Ld. AO erred in granting TDS credit of INR 3,19,48,723 as per Final Assessment Order issued under section 143(3) read with section 144C for the subject year, as against INR 3,19,50,472 as per the latest Form 26AS available on the income tax efiling/TR....

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....e submissions of the assessee and proceeded to assess subscription receipts as royalty income both under the Act as well as under the treaty provisions and accordingly, framed draft assessment orders. Learned DRP also upheld the decision of the Assessing Officer. 4. Learned counsel for the assessee submitted that the issue is squarely covered by the decision of Hon'ble Delhi High Court in case of CIT vs. MOL Corporation vs. DCIT in ITA No. 99/2023- order dated 16.02.2023. He further relied upon the decision of coordinate Bench in case of Amazon Web Services, Inc. vs. ACIT in ITA Nos. 522 & 523/Del/2023. 5. Learned Departmental Representative fairly submitted that the issue is covered by the decisions cited by learned couns....