ITAT : Advances hearing over AO re-characterizing Flipkart's discounts bonanza as monopoly building capital-expense

Feb 08,2018

Bengaluru ITAT directs Flipkart India Pvt Ltd. (‘assessee’) to pay 50% of demand of Rs.109.52 Cr and furnish bank guarantee for balance, relying upon ITAT stay order in Google India approved "in spirit" by HC, directs registry to advance appeal hearing date to April 9, 2018; Notes that AO treated the loss incurred as capi...

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