Depreciation on Imported Software Not Considered as Royalty & Not Liable for Disallowance u/s 40(a)(ia)

Wifi Networks Pvt. Ltd Vs DCIT (ITAT Bangalore) The issue under consideration is whether depreciation on ‘imported software’ will be considered as royalty and liable for disallowance under section 40(a)(ia) for want of TDS? ITAT states that from the submissions made by ld AR, ITAT notice that there is contradiction between the facts narrated by the Ld A.R with regard to the payment of Rs.5.00 crores on which the impugned depreciation has been claimed by the assessee and the facts that were understood by Ld.CIT(A). Further, ITAT notice that the Ld CIT(A) has not taken cognizance of the orde...