M/S ALTISOURCE BUSINESS SOLUTIONS PRIVATE LIMITED ,BANGALORE vs. INCOME TAX OFFICER WARD-1(1)(1), BANGALORE
In the result, the appeal by the assessee is partly allowed
ITA 3368/BANG/2018[2014-15]Status: DisposedITAT Bangalore24 Jun 2022AY 2014-15
Bench: Shri N. V. Vasudevan & Ms. Padmavathy Sit(Tp)A No.3368/Bang/2018 Assessment Year : 2014-15 M/S. Altisource Business Solutions Pvt. Ltd., Vs. Ito, Pritech Park, Block Nok.12, 3Rd Floor, 5Th Ward – 1(1)(1), Floor, B-Wing & 4Th Floor, B-Wing, Bengaluru. Bellandur Village, Bengaluru-560 103. Pan : Aaaco 9467 A Appellant Respondent Assessee By : Smt. Rashmi R, Advocate Revenue By : Shri. V. S. Chakrapani, Cit(Dr)(Itat), Bengaluru. Date Of Hearing : 21.06.2022 Date Of Pronouncement : 24.06.2022 O R D E R Per N V Vasudevan
For Appellant: Smt. Rashmi R, AdvocateFor Respondent: Shri. V. S. Chakrapani, CIT(DR)(ITAT), Bengaluru
Section 143(3)Section 144C(13)Section 92Section 92B
…tion, while computing income from business. Learned Counsel for the assessee submitted that what the assessee purchased was an application software and therefore following the decision of the Hon’ble Karnataka High Court in the case of CIT vs. IBM India Ltd., 361 ITR 210 (Karnataka), the AO allowed deduction of the expenditure as revenue expenditure. In so far as the plea of the assessee is concerned, the factual details as given by the assessee on the nature of expense is as follows: “The Assessee submits that the Company is engaged in the business of providing IT/ ITES services. Hence, as part of its business o…
