DEPUTY COMMISSIONER OF INCOME-TAX vs. FOSECO INDIA LTD., PUNE

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ITA 2215/PUN/2016Status: DisposedITAT Pune19 March 2018AY 2012-1315 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the CIT(A)'s decision regarding royalty payments was correct and that TDS was not required on director sitting fees for the assessment year in question. The Tribunal followed its own earlier decisions and decisions of coordinate benches.

What were the facts?

The Revenue appealed against the CIT(A)'s order concerning royalty payments and TDS on director sitting fees. The assessee argued that royalty payments were at ALP and TDS provisions were not applicable to director sitting fees. The Tribunal noted that similar issues were decided in favour of the assessee in earlier years.

What were the issues?

Whether royalty payments made by the assessee were at arm's length price, and whether TDS was deductible on sitting fees paid to directors.

Which sections of the Income-tax Act were involved?

Section 194J,Section 40(a)(ia),Section 194H

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCH “B”, PUNE

Before: SHRI ANIL CHATURVEDI, AM & SHRI VIKAS AWASTHY, JM

For Appellant: Shri Soumen Adak / Shri Atul Poddar
For Respondent: Shri Sandeep Garg
Hearing: 15.03.2018Pronounced: 19.03.2018

Heard together (2 matters)

ITA No.2215/PUN/2016
ITA No.874/PUN/2017

Read from the judgment's own cause title. This page is filed under one of them.

आदेश क� ��त�ल�प अ�े�षत/Copy of the Order forwarded to : 1. अपीलाथ� / The Appellant 2. ��यथ� / The Respondent 3. CIT(A)-13, Pune / CIT(A) concerned. 4. CIT(IT/TP), Pune / CIT concerned. 5. �वभागीय ��त�न�ध, आयकर अपील�य अ�धकरण, “बी” / DR, 6. ITAT, “B” Pune; गाड� फाईल / Guard file.

आदेशानुसार/ BY ORDER

// True Copy //

व�र�ठ �नजी स�चव / Sr. Private Secretary आयकर अपील�य अ�धकरण ,पुणे / ITAT, Pune.

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