What did the Tribunal hold?

The Tribunal corrected the ground of appeal from a corporate tax issue to an issue regarding the credit for advance taxes paid. The order dated August 5, 2020, is modified to reflect this correction.

The Income Tax Appellate Tribunal (ITAT) issued a corrigendum to its earlier order dated August 5, 2020. The corrigendum corrected a typographical error where ground No. 17 in the assessee's appeal was erroneously reproduced.

What were the issues?

The primary issue was a misstatement of an appeal ground in a previous tribunal order. The corrigendum rectified this error to accurately reflect the assessee's appeal.

M/S Lg Soft India Private Limited vs DCIT | ITAT Bangalore 2020

Per N.V. Vasudevan, Vice President

The cross appeals by the assessee in IT(TP)A No.52/Bang/2016 and by the revenue in IT(TP) A No.97/Bang/2016 was disposed of by a common order of this Tribunal on 05.08.2020.

In adjudication of the assessee’s appeal in IT(TP)A No.52/Bang/2016, at page 9 of the order of the Tribunal in para 18, ground No.17 relating to corporate tax issue is referred to and reproduced as follows:- “17. The learned AO / learned TPO erred in ignoring the limited risk nature of the contractual services provided by the Appellant and in not providing an appropriate adjustment towards the risk differential, even when full-fledged entrepreneurial companies are selected as comparable companies.”

It is noticed that the ground of appeal No.17 reproduced as above in the order of Tribunal is in fact ground No.16 raised by the assessee and IT(TP)A Nos.52 & 97/Bang/2016 Page 2 of 2 erroneously reproduced as ground No.17 in the order. Therefore, the ground of appeal

No.17 reproduced at para 18 of the order of Tribunal is substituted to read as under:- “17. The learned AO has erred in granting credit for advance taxes paid by the Company only to the extent of Rs.113,641,369 instead of Rs.115,000,000.”

4. Thus, the order of the Tribunal dated 05.08.2020 stands modified to the extent indicated above.

M/S LG SOFT INDIA PRIVATE LIMITED,BANGALORE vs. DCIT, BANGALORE

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