Can Corporate Management Fee be added u/s 40(a)(i) in the income computation statement?

Last updated: 28 August 2021
Quick Summary
This judgement concerns whether a corporate management fee can be added back under Section 40(a)(i) of the Income Tax Act when computing income. The Income Tax Appellate Tribunal found that the revision order by the CIT(LTU) was not legally sustainable. Consequently, the appeal filed by the assessee was allowed, and the revision order was set aside.

Court :
ITAT Bangalore

Brief :
The assessee has filed this appeal challenging the revision order dated 19.1.2017 passed by Ld. CIT(LTU), Bangalore for assessment year 2010-11 u/s 263 of the Income-tax Act,1961 ['the Act' for short]. The assessee is challenging the validity of same.

Citation :
ITA No.654/Bang/2017

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