Assessee IDC Centre for Consultancy and Research Private Limited, Bangalore Deputy Commissioner Of Income Tax, Circle- 3(1)(1), Bangalore

Last updated: 04 December 2020

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The Income Tax Appellate Tribunal heard a case involving M/s. IDC Centre for Consultancy and Research Private Ltd. and the Deputy Commissioner of Income-tax concerning assessment year 2015-16. The assessee appealed the disallowance of management fees paid to its group companies, amounting to over £50 million. The Assessing Officer questioned the basis of these fees due to insufficient documentation, generic invoices, and questionable timing of invoicing, suggesting it was a method to shift profits out of India.

Court :
ITAT Bangalore

Brief :
The assessee has filed this appeal challenging the order dated 22-11-2019 passed by Ld CIT(A)-3, Bengaluru and it relates to the assessment year 2015-16. The assessee is aggrieved by the decision of Ld CIT(A) in not admitting additional evidences and in confirming the disallowance of management fees of Rs.5,05,83,087/- paid by the assessee to its group concerns.

Citation :
ITA No.104/Bang/2020

Daily Limit Reached