On Thursday, in a major decision, Delhi High Court supported the findings of the Income Tax Appellate Tribunal (ITAT) that NDTV has held the rights for income tax deductions on television news software produced and exported by it outside the country.

 High Court Upholds ITAT's Findings On NDTV
Source: NDTV

The court also dismissed the Income Tax department’s appeal against the ITAT July 2004 decision. A bench comprising of Justices Pratibha M Singh and S Muralidhar has expelled the previous decision that NDTV Ltd was entitled to the deduction under Section 80HHE of the Act.

According to the Outlook India, the bench said: “The assessee (NDTV) has in the present case discharged its onus of showing that the television programs produced by it answers the description of computer software under clause (b) to the explanation to Section 80HHE of the Act.”

 High Court Upholds ITAT's Findings On NDTV
Source: DHI India

It further added: “Therefore, the ultimate conclusion reached by the ITAT calls for no interference. For all the aforementioned reasons, the question framed by the court by the order dated August 17, 2005, is answered in the affirmative, that is, in favor of NDTV and against the Revenue (department).”

Also Read :  NDTV India Editor Ravish Kumar Slams PM Modi, "He Can Follow Me Instead Of Those Celebrating Gauri Lankesh’s Murder"

Section 80HHE in The Income- Tax Act, 1995

Under this section, Deduction in respect of profits from export of computer software if the company brings convertible foreign exchange within a period of six months from the end of the previous year.

NOW YOU CAN GET THE LATEST BUZZ ON YOUR PHONE! DOWNLOAD THE PAGALPARROT MOBILE APP FOR ANDROID