Major Tax relief to Flipkart-
Tribunal rules in favour of Flipkart in ₹110 crore tax case
The Income Tax Appellate Tribunal (ITAT) has ruled in favour of Flipkart in a ₹110 crore tax demand case. It has rejected the tax department’s argument that discounts given out by Flipkart should be reclassified as capital expenditure. Flipkart had claimed such ‘marketing expenses’ are incurred yearly to sell products and thus they are deductible from revenues, leading to losses.