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Income Tax Deduction on Consultancy Fee cannot be Disallowed Merely because Payee is Related Party: ITAT notes Trademark Use Proves Services Rendered
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Income Tax Deduction on Consultancy Fee cannot be Disallowed Merely because Payee is Related Party: ITAT notes Trademark Use Proves Services Rendered
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) recently held that a consultancy fee paid to a related party cannot be disallowed merely on account of the relationship between the payer and the payee, particularly where there is material to demonstrate that services were actually rendered. The ITAT arrived at its conclusion after noting that the service provider's ownership of a trademark actively used by the assessee in its own …
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