Free Prototypes from AE Not Taxable, Training Payments not FTS

PCIT Vs Sony India Software Centre Pvt. Ltd. (Karnataka High Court) Free Prototypes from AE Not Taxable u/s 28(iv) & Employee Training Payments to Singapore Consultant Not FTS – Revenue’s Appeal Dismissed-HC Karnataka In a significant ruling, the Karnataka High Court dismissed the Revenue’s appeal filed against Assessee. The dispute revolved around (i) addition of ₹1.44 crore towards value of assets received free of cost from Associated Enterprises (AEs) treated as income u/s 28(iv), & (ii) disallowance of ₹9.59 lakh u/s 40(a)(i) on account of payments made to a Singapore con...