Karnataka High Court reportedly granted interim relief to Flipkart India on the Commissioner of Income Tax (Appeals) demand of over INR 1,100 Cr for the assessment years 2016-17 and 2018-19.
According to CNBC, Flipkart claimed that the Income Tax Appellate Tribunal (ITAT) in Bengaluru had already ruled in favour of the company capitalising marketing intangibles for the assessment year 2015-16, which was the main point of contention. In addition to the issue of Flipkart capitalising marketing intangibles, the Commissioner of Income Tax (Appeals) demanded that Flipkart pay the amount over Employee Stock Ownership Plan (ESOP) cross charges.
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