Tag: Income Tax Appellate Tribunal

MUMBAI: The income-tax appellate tribunal has, like in the past, allowed the Tata brand name payment by TCS to Tata Sons as a business deduction.In a recent order, ITAT's Mumbai bench approved Rs 77 lakh paid by TCS for the use of the 'Tata' name and logo to Tata Sons as a business deduction. If an expense is allowed as a business deduction, it lowers taxable profits and hence the income-tax outgo.Under the Tata brand agreement, TCS, like other companies in the group fold, has to make an...