Asset received for testing purpose not taxable u/s. 28(iv) as there is no benefit on use of such asset

AMD India Private Limited Vs DCIT (ITAT Bangalore) ITAT Bangalore held that assets received for testing purpose and there is no specific benefit that arises to the assessee with respect to usage of those assets, the same is not taxable under section 28(iv) of the Income tax Act. Accordingly, appeal of assessee allowed. Facts- The assessee company is engaged in the business of providing software development services in the field of design of semi-conductor products and application solutions to its associated enterprise. During the AY 2013-14, the Assessee had rendered Software Development Serv...