• Legal Era India
  • Legal Era Global
  • Membership
  • Sign inSUBSCRIBE
Legal Era
X
Sign in
  • Home
  • News
    +
    • From the Courts
    • Policy & Law
    • Supreme Court (India)
    • High Court (India)
    • TAX Updates
    • MARKET WATCH
    • Deal Street
    • Global Insights
    • IBC Cases
    • Hires & Moves
    • IP News
    • Competition Verdict
    • Global Articles
    • Global Deals
  • Articles
    +
    • ABOUT THE LAW
    • AWARDS & ACCOLADES
    • Aerospace
    • Agriculture
    • Alternate Dispute Resolution
    • Banking and Finance
    • Bankruptcy
    • Book Review
    • Bribery & Corruption
    • Commercial Litigation
    • Competition Law
    • Conference Reports
    • Consumer Products
    • Contract
    • Corporate Governance
    • Corporate Law
    • Covid-19
    • Cryptocurrency
    • Cybersecurity
    • Data Protection
    • Defence
    • Digital Economy
    • E-commerce
    • Employment Law
    • Energy and Natural Resources
    • Entertainment and Sports Law
    • Environmental Law
    • FDI
    • Food and Beverage
    • Health Care
    • IBC Diaries
    • Insurance Law
    • Intellectual Property
    • International Law
    • Labour Laws
    • Litigation
    • Litigation Funding
    • Manufacturing
    • Mergers & Acquisitions
    • NFTs
    • Privacy
    • Private Equity
    • Project Finance
    • Real Estate
    • Risk and Compliance
    • Technology Media and Telecom
    • Tributes
    • Zoom In
    • Take On Board
    • In Focus
    • Law & Policy and Regulation
    • IP & Tech Era
    • Viewpoint
    • Arbitration & Mediation
    • Tax
    • Student Corner
    • ESG
    • Gaming
    • Inclusion & Diversity
  • Law Firms
    +
    • Global Law Firm
    • Asia Law Firm
    • India Law Firm
  • In-House
  • Rankings
  • E-Magazine
  • Legal Era TV
  • Legal Era TV
  • Events
  • News
    • From the Courts
    • Policy & Law
    • Supreme Court (India)
    • High Court (India)
    • TAX Updates
    • MARKET WATCH
    • Deal Street
    • Global Insights
    • IBC Cases
    • Hires & Moves
    • IP News
    • Competition Verdict
    • Global Articles
    • Global Deals
  • Articles
    • ABOUT THE LAW
    • AWARDS & ACCOLADES
    • Aerospace
    • Agriculture
    • Alternate Dispute Resolution
    • Banking and Finance
    • Bankruptcy
    • Book Review
    • Bribery & Corruption
    • Commercial Litigation
    • Competition Law
    • Conference Reports
    • Consumer Products
    • Contract
    • Corporate Governance
    • Corporate Law
    • Covid-19
    • Cryptocurrency
    • Cybersecurity
    • Data Protection
    • Defence
    • Digital Economy
    • E-commerce
    • Employment Law
    • Energy and Natural Resources
    • Entertainment and Sports Law
    • Environmental Law
    • FDI
    • Food and Beverage
    • Health Care
    • IBC Diaries
    • Insurance Law
    • Intellectual Property
    • International Law
    • Labour Laws
    • Litigation
    • Litigation Funding
    • Manufacturing
    • Mergers & Acquisitions
    • NFTs
    • Privacy
    • Private Equity
    • Project Finance
    • Real Estate
    • Risk and Compliance
    • Technology Media and Telecom
    • Tributes
    • Zoom In
    • Take On Board
    • In Focus
    • Law & Policy and Regulation
    • IP & Tech Era
    • Viewpoint
    • Arbitration & Mediation
    • Tax
    • Student Corner
    • ESG
    • Gaming
    • Inclusion & Diversity
  • Law Firms
    • Global Law Firm
    • Asia Law Firm
    • India Law Firm
  • In-House
  • Rankings
  • E-Magazine
  • Legal Era TV
  • Legal Era TV
  • Events
search-icon

Top Stories

HomeNewsFrom the Courts
12 Jan 2021 3:00 AM GMT

ITAT grants relief to Wipro GE Healthcare, orders re-computation of deductions

By Legal Era
ITAT grants relief to Wipro GE Healthcare, orders re-computation of deductions

ITAT grants relief to Wipro GE Healthcare, orders re-computation of deductions The Income Tax Appellate Tribunal (ITAT) remitted the matter to the Assessing Officer (AO) for re-computation of deduction that is permitted under Section 10A of the Income Tax Act, 1961, (IT Act) and it granted relief to Wipro M/s Wipro GE Healthcare Private Limited (appellant) is engaged in the business...

ToRead the Full Story, Subscribe to Legal Era

Access the exclusive LEGAL ERAStories,Editorial and Expert Opinion

Subscribe Now
AlreadyaSubscriber?SigninNow
View Plans

ITAT grants relief to Wipro GE Healthcare, orders re-computation of deductions

The Income Tax Appellate Tribunal (ITAT) remitted the matter to the Assessing Officer (AO) for re-computation of deduction that is permitted under Section 10A of the Income Tax Act, 1961, (IT Act) and it granted relief to Wipro

M/s Wipro GE Healthcare Private Limited (appellant) is engaged in the business of manufacture, sale, and service of medical diagnostic equipment and accessories. The appellant is also engaged in software development and trading in various products.

An appeal was filed by the appellant before the ITAT. The ground of the appeal urged in all the three years related to the issue of re-computation of deduction allowable under Section 10A of the IT Act.

The appellant further submitted that the ITAT had restored the issue of transfer pricing adjustment made regarding the royalty payment only. However, while giving effect to the order of the ITAT, the Assessing Officer (AO) has exceeded his jurisdiction by altering the deduction allowed under Section 10A of the IT Act.

The appellant further contended that he was not given an opportunity by the AO and the Commissioner of Income Tax (Appeals) [CIT(A)] has also upheld the action of the AO, without considering the jurisdictional aspect. The appellant submitted that the deduction under Section 10A of the IT Act is allowed at the undertaking level and not at the entity level. CIT(A) taken into consideration the profits available at the entity level while adjudicating the issue, which was an incorrect proposition of law.

The matter was listed before the Coarm headed by the Vice President, N.V. Vasudevan of the ITAT. The ITAT on 9 January 2021 set aside the order passed by CIT(A) taking all the years under consideration and restored the same to the file of the AO.


Click to download here Full Order


Next Story
TAGS:
  • #Wipro
  • #ITAT
  • #remits
  • #Assessing Officer
  • #U/s 10A
  • #CIT(A)
Similar Posts
Trending Now
Recommended Articles
  • News
  • From the Courts
  • Supreme Court (India)
  • High Court (India)
  • Global Insights
  • Deal Street
  • Hires & Moves
  • Refund & Cancellation Policy
  • Articles
  • Zoom In
  • Take On Board
  • In Focus
  • Law & Policy
  • IP & Tech Era
  • Viewpoint
  • Arbitration & Mediation
  • Tax
  • Student Corner
  • Interviews
  • Law Firms
  • E-Magazine
  • Legal Era TV
  • Membership
  • Reader's Feedback
  • Cartoons
  • Subscribe
  • Advertise
Follow Us
Subscribe Newsletter
  • 2023© All rights reserved Legal Era Media Group
  • Who We Are
  • Careers
  • Advertise with Us
  • Contact Us
  • Privacy Policy
  • Terms and Conditions
Powered by  Hocalwire
X