Delhi HC Upholds Deduction of Liquidated Damages for Delayed Service Supply to BSNL & MTNL

CIT (International Taxation) Vs UT Starcom Inc. (Delhi High Court) Introduction: The recent judgment by the Delhi High Court in the case of Commissioner of Income Tax (International Taxation)-3 Vs UT Starcom Inc. (ITA 719/2023) revolves around the deduction of liquidated damages concerning the Assessment Year 2008-09. The appeal seeks to challenge the order of the Income Tax Appellate Tribunal (ITAT) dated 28.07.2021. Detailed Analysis: The core issue examined by the statutory authorities and subsequently appealed is whether UT Starcom Inc., the respondent/assessee, rightfully claimed a deduct...