DCIT, Circle-12(2), New Delhi Interglobe Technology Quotient Pvt. Ltd., New Delhi

Last updated: 02 January 2021

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This case involves an appeal by the Revenue against the Income Tax Appellate Tribunal's decision to allow a deduction of over £62 million to Interglobe Technology Quotient Pvt. Ltd. under Section 10AA of the Income Tax Act. The Revenue disputed the deduction, questioning whether the assessee was indeed engaged in software export to qualify. The assessee, which develops software and provides IT-enabled services from an SEZ unit, claimed this significant deduction for the assessment year 2014-15.

Court :
ITAT New Delhi

Brief :
Challenging the order dated 25 1999-2000 17 in appeal No. 712/2016-17/CIT(A), passed by the learned Commissioner of Income Tax (Appeals)-4, New Delhi (“Ld. CIT(A)”), in the case of M/s Interglobe technology quotient Pvt. Ltd (“the assessee”) for the assessment year 2014-15, Revenue preferred this appeal disputing the allowing the claim of Rs. 62, 81, 45, 818/-towards deduction under section 10AA of the Income Tax Act, 1961 (for short “the Act”) on the ground that the Ld. CIT(A) did not examine the fact whether or not the assessee is said to be engaged in the business of software export to be eligible for deduction under section 10AA of the Act.

Citation :
ITA No.-6773/Del/2017

Daily Limit Reached