Delhi HC Upholds Deletion of Section 68 Addition on Genuine Trade Advances

Advertisement PCIT Vs Montage Enterprises Pvt. Ltd. (Delhi High Court) The matter concerned Assessment Years 2005-2006 and 2006-2007. The Revenue raised questions regarding the assessee’s reallocation of royalty-related expenditure and income from its Jammu Unit to the Corporate Division, entitlement to deduction under Section 80IB of the Income Tax Act, 1961 in respect of sub-licence fee, findings relating to additions under Section 68, and reduction of the licence fee disallowance concerning the Malanpur Unit. Read SC Judgment in this case: SC Dismisses Revenue SLP on Section 68 Add...