M/S. WIPRO LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(2), BANGALORE

ITA 2556/BANG/2019Status: HeardITAT Bangalore23 May 2022AY 2015-1685 pages
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What did the Tribunal hold?

The Tribunal restored issues regarding contradictory computation sheets and dividend distribution tax to the AO for verification. It also directed the AO to delete the disallowance under Section 115BBD as the assessee did not receive dividend income. The claim for TDS credit was also restored to the AO for examination.

What were the facts?

The assessee, Wipro Limited, appealed against an assessment order concerning AY 2015-16. The appeal raised several issues including contradictory computation sheets, dividend distribution tax demand, capitalization of salaries and wages for software development, and disallowance under Section 115BBD.

What were the issues?

Whether the AO was justified in invoking Section 115BBD when no dividend income was received by the assessee, and whether TDS credit should be allowed on the basis of additional certificates.

Which sections of the Income-tax Act were involved?

Section 115BBD,Section 14A,Section 115JB

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Income Tax Appellate Tribunal, “A’’ BENCH: BANGALORE

Before: SHRI N.V. VASUDEVAN & SHRI B.R. BASKARAN

For Appellant: Shri S. Ganesh, Sr. AR
For Respondent: Shri T. Roumuan Paite, D.R
Hearing: 14.03.2022Pronounced: 23.05.2022

PER B.R. BASKARAN, ACCOUNTANT MEMBER:

The appeal filed by the assessee is directed against the order dated 31-10-2019 passed by the Assessing officer u/s 143(3) r.w.s. 144C(13) of the Income-tax Act,1961 ['the Act' for short] for assessment year 2015-16 in pursuance of directions given by Ld Dispute Resolution Panel (DRP).

2.

The assessee is engaged in different types of business activities, viz., software development services and IT services; manufacture of Vanaspati/Hydro generated oils; toilet soaps; lighting products; pharmaceuticals & Neutraceutical products; leather

IT(TP)A No.2556/Ban

The order continues below.

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