IVY COMPTECH PRIVATE LIMITED,HYDERABAD vs. DCIT., CIRCLE 2(1), HYDERABAD
In the result, the appeal of the assessee is allowed
ITA 908/HYD/2024[2020-21]Status: DisposedITAT Hyderabad04 Feb 2025AY 2020-21
Bench: Shri Laliet Kumar, Hon’Ble & Shri G. Manjunatha, Hon’Bleassessment Year: 2020-21 Ivy Competech Private Limited, Vs. The Deputy Commissioner Of Income Tax, Hyderabad. Circle 2(1), Hyderabad. Pan : Aaac18884K. (Appellant) (Respondent) Assessee By: Shri Nageswara Rao, Advocate. Revenue By: Ms. M. Narmada, Cit-Dr Date Of Hearing: 20.01.2025 (Hybrid Hearing) Date Of Pronouncement: 04.02.2025
For Appellant: Shri Nageswara Rao, AdvocateFor Respondent: Ms. M. Narmada, CIT-DR
Section 143(2)Section 143(3)Section 144BSection 144CSection 144C(13)Section 144C(5)Section 92C
Transfer Pricing Officer revised the adjustment made u/s. 92CA in the order dated 31.03.2023. In the order dated 31.03.2023, the TPO made following adjustments:
S.No.
Description
Adjustment u/s 92CA
(in Rs.)
1
Provision of Software development
67,95,430/- expenses
2
Interest on delayed receivables
11,35,997/-
Total Adjustments
79,30,427/-
As per directions
