Software termination charge reimbursement to group entity for business purposes allowable

AM International Holdings (India) Private Limited Vs ITO (ITAT Chennai) Reimbursement to group concern held business expendituare- ITAT Chennai allows software expense claim Assessee, engaged in management consultancy services to group entities including Tamil Nadu Petroproducts Ltd. (TPL), filed appeal against the order of CIT(A), NFAC, Delhi, confirming disallowance of software expenses of ₹60.94 lakh claimed u/s 37(1). During assessment, AO disallowed the expenditure holding that the Assessee failed to furnish supporting bills, claiming that records were destroyed in the Chennai floods. A...