ITAT Delhi Blesses “Typo” Claim – ₹43 Cr Arbitration Award Recast as Software Sales!

ACIT Vs Nuwave E Solutions (P) Ltd (ITAT Delhi) ITAT Delhi Blesses “Typo” Claim – ₹43 Cr Arbitration Award Recast as Software Sales! Case Background Assessee: Nuwave E Solutions (P) Ltd., a 100% EOU engaged in development & export of software, registered with STPI. Major shareholder: Shri Anil Gupta (99%), who also owns the US AE (sole buyer). AO’s Assessment (31.12.2010 u/s 143(3)): Disallowed deduction u/s 10A on: ₹43.49 Cr “Arbitration Award” (claimed to be software sale). ₹1.23 Cr forex gain. Invoked s.40(a)(ia) on ₹3.55 Cr for short TDS (10% instead of 20%) on b...