8. Linklaters LLP v. ITO (Int.Tax)

K D LITE DEVELOPERS PRIVATE LIMITED,MUMBAI vs. DY. COMMISSIONER OF INCOME TAX, TDS CIRCLE 1(3), MUMBAI, MUMBAI

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

…roup concerns, including the assessee company, which do not attract any deduction of tax and disallowance could not be made by invoking the provisions of section 40(a)(iii) for non-deduction of tax from reimbursement. 8. Linklaters LLP Vs ITO (Int.Tax) [2011] 9 ITR (Trib) 217 (Mum) It was, inter alia, held in this case that reimbursements received by the assessee were in respect of specific and actual expenses incurred by the assessee and do not involve any mark up. Besides, there was reasonable control mechanism in place to ensure that these claims were not inflated and the assessee had furnished sufficient evid…

K D LITE DEVELOPERS PRIVATE LIMITED,MUMBAI vs. DY. COMMISSIONER OF INCOME TAX, TDS CIRCLE 1(3), MUMBAI

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

…oup concerns, including the assessee company, which do not attract any deduction of tax and disallowance could not be made by invoking the provisions of section 40(a)(iii) for non-deduction of tax from reimbursement. 8. Linklaters LLP Vs ITO (Int.Tax) [2011] 9 ITR (Trib) 217 (Mum) It was, inter alia, held in this case that reimbursements received by the assessee were in respect of specific and actual expenses incurred by the assessee and do not involve any mark up. Besides, there was reasonable control mechanism in place to ensure that these claims were not inflated and the assessee had furnished sufficient evi…

K D LITE DEVELOPERS PRIVATE LIMITED,MUMBAI vs. DY. COMMISSIONER OF INCOME TAX, TDS CIRCLE 1(3),, MUMBAI

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

…roup concerns, including the assessee company, which do not attract any deduction of tax and disallowance could not be made by invoking the provisions of section 40(a)(iii) for non-deduction of tax from reimbursement. 8. Linklaters LLP Vs ITO (Int.Tax) [2011] 9 ITR (Trib) 217 (Mum) It was, inter alia, held in this case that reimbursements received by the assessee were in respect of specific and actual expenses incurred by the assessee and do not involve any mark up. Besides, there was reasonable control mechanism in place to ensure that these claims were not inflated and the assessee had furnished sufficient evid…

K D LITE DEVELOPERS PRIVATE LIMITED,MUMBAI vs. DY. COMMISSIONER OF INCOME TAX, TDS CIRCLE 1(3), MUMBAI

In the result, all the five appeals filed by the assessee are allowed

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

…roup concerns, including the assessee company, which do not attract any deduction of tax and disallowance could not be made by invoking the provisions of section 40(a)(iii) for non-deduction of tax from reimbursement. 8. Linklaters LLP Vs ITO (Int.Tax) [2011] 9 ITR (Trib) 217 (Mum) It was, inter alia, held in this case that reimbursements received by the assessee were in respect of specific and actual expenses incurred by the assessee and do not involve any mark up. Besides, there was reasonable control mechanism in place to ensure that these claims were not inflated and the assessee had furnished sufficient evid…

K D LITE DEVELOPERS PRIVATE LIMITED,MUMBAI vs. DY. COMMISSIONER OF INCOME TAX, TDS CIRCLE 1(3), MUMBAI, MUMBAI

In the result, all the five appeals filed by the assessee are allowed

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

…roup concerns, including the assessee company, which do not attract any deduction of tax and disallowance could not be made by invoking the provisions of section 40(a)(iii) for non-deduction of tax from reimbursement. 8. Linklaters LLP Vs ITO (Int.Tax) [2011] 9 ITR (Trib) 217 (Mum) It was, inter alia, held in this case that reimbursements received by the assessee were in respect of specific and actual expenses incurred by the assessee and do not involve any mark up. Besides, there was reasonable control mechanism in place to ensure that these claims were not inflated and the assessee had furnished sufficient evid…

ACIT -25(2), MUMBAI vs. M/S. GEPACH INTERNATIONAL, MUMBAI

In the result both the appeals filed by the revenue are dismissed

Bench: Shri Pawan Singh, Jm & Shris. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No. 5943 & 5942/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2013-14 & 2014-15)

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JM & SHRIS. RIFAUR RAHMAN, AM आयकरअपीलसं./ I.T.A. No. 5943 & 5942/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2013-14 & 2014-15) M/s Gepach International, ACIT – 25(2), B/13, Chand Society, Juhu Room no. 508, C-10, 5th बिधम/ Church Road, floor, Pratyakshkar Bhavan, Vs. Mumbai-400 049 Bandra Kurla Complex(E), Mumbai-400 051 स्थायीलेखासं./जीआइआरसं./PAN No. AAAFG5438N (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant : Ms. Samatha, DR by प्रत्यथीकीओरसे/Respondentby : Shri Vijay Mehta, AR 07.08.2020 Virtual Date of Hea…

ING BEWAAR MAATSCHAPPIJ I. B.V. AS TRUSTREE OF ING,MUMBAI vs. DDIT (IT) RG 3(1), MUMBAI

In the result, the appeal is allowed

…ITA No. 7120 and 7121/Mum/2014 Assessment year 2008-09 and 2009-10 Page 1 of 11 IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI ‘I’ BENCH, MUMBAI [Coram: Pramod Kumar VP and Saktijit Dey JM] ITA No. 7120 and 7121/Mum/2014 Assessment years: 2008-09 and 2009-10 ING Bewaar Maatschappij I BV - As trustees of ING Emerging Markets Equity Fund (now known as NNIP Bewaar Maatschappij I BV) ……………...………..Appellant Nesco IT Building III, 8th floor, Nesco IT Park Nesco Complex Gate No. 2, Western Express Highway Goregaon (East), Mumbai 400 063 [ PAN: AAATI4316D] Vs Deputy Commissioner of Income Tax International Taxation Circle…

ING BEWAAR MAATSCHAPPIJ I. B.V. AS TRUSTREE OF ING,MUMBAI vs. DDIT (IT) RG 3(1), MUMBAI

In the result, the appeal is allowed

…ITA No. 7120 and 7121/Mum/2014 Assessment year 2008-09 and 2009-10 Page 1 of 11 IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI ‘I’ BENCH, MUMBAI [Coram: Pramod Kumar VP and Saktijit Dey JM] ITA No. 7120 and 7121/Mum/2014 Assessment years: 2008-09 and 2009-10 ING Bewaar Maatschappij I BV - As trustees of ING Emerging Markets Equity Fund (now known as NNIP Bewaar Maatschappij I BV) ……………...………..Appellant Nesco IT Building III, 8th floor, Nesco IT Park Nesco Complex Gate No. 2, Western Express Highway Goregaon (East), Mumbai 400 063 [ PAN: AAATI4316D] Vs Deputy Commissioner of Income Tax International Taxation Circle…

ING BEWAAR MAATSCHAPPIJ I. B.V. AS TRUSTREE OF ING,MUMBAI vs. DDIT (IT) RG 3(1), MUMBAI

In the result, the appeal is allowed

…protection cannot, therefore, be declined. The second reason is that even if one goes on the basis that it is a tax transparent entity simpliciter, following the principles laid down by this Tribunal in the case of Linklaters LLP Vs Income Tax Officer [(2010) 9 ITR (Trib) 217 (Mum)], what is actually important is the fact of income being actually in the tax net in the treaty partner jurisdiction, i.e. the Netherlands, rather than the manner in which the said income is in the tax net in the said treaty partner jurisdiction. The FGR for which the assessee is trustee is not a taxable entity in the Netherlands, on ac…