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AO can’t compute ALP himself if TPO failed to consider computation of ALP of corporate guarantee issued by NDTV

June 17, 2020[2020] 117 taxmann.com 212 (Delhi - Trib.)

TRANSFER PRICING : Where TPO had not considered issue regarding computation of ALP of corporate guarantee issued by assessee, Assessing Officer could not himself determine same without referring same to TPO

INTERNATIONAL TAXATION : Where in case of US company, High Court had held that no tax was payable on amount received for providing transmission and up-linking facilities to Indian company; no disallowance could be made in hands of assessee under section 40 (a) (ia)

INCOME TAX : Trade discount given to advertisement agencies by TV news broadcasting company as per industry practice, being not discount, could not be disallowed for non-deduction of TDS

INCOME TAX : Discount on shares under ESOP is an allowable deduction

INCOME TAX : Expenditures on software such as annual maintenance contract expenditure, software upgradation expenditure, license and right to use software, accounting software and other softwares are revenue in nature

INCOME TAX : Where no exempt income was received or receivable during relevant previous year in case of assessee for this year, disallowance under section 14A could not be made

INCOME TAX : Where shares were held for 13 months, assessee's owneship was proved and sale price was supported by valuation report, surplus on sale would be capital gains and not income from other sources

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