ITAT Deletes Secondary Adjustment for Upfront Discount Payment by Tech Mahindra to Secure Software and IT Services Contract with Non-Resident Venture Partner [Read Order]

By Aparna. M - On November 17, 2023 11:30 am - 2 mins read
ITAT - Secondary Adjustment - Discount Payment - Tech Mahindra - Secure Software - IT Services Contract - Non-Resident Venture Partner-taxscan

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, deleted the secondary adjustment made towards the upfront discount payment by Tech Mahindra to secure contracts for software and IT services provided to non-resident venture partners. Tech Mahindra Limited, a joint venture between M/s Mahindra & Mahindra Limited and British Telecom Plc, entered into a contract to…

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