Heavy Industries Ltd. vs. DIT, 288 ITR 408 (SC) (ii). Channel Guide India Ltd. v. ACIT

140 TTJ 68Income Tax Appellate Tribunal#10408 most cited
10

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2022.

Judgments citing Heavy Industries Ltd. vs. DIT, 288 ITR 408 (SC) (ii). Channel Guide India Ltd. v. ACIT

M/S. DMG MORI INDIA PRIVATE LIMITED (FORMERLY DMG MORI SEIKI INDIA MACHINES AND SERVICES PRIVATE LIMITED),BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 11(1), BANGALORE

In the result the appeal filed by the assessee stands partly allowed

ITA 165/BANG/2020[2009-10]Status: DisposedITAT Bangalore29 Apr 2022AY 2009-10

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiit(Tp)A No. 165/Bang/2020 Assessment Year : 2009-10 M/S. Dmg Mori India Pvt. Ltd. (Formerly Dmg Mori Seiki India Machines & The Deputy Services Pvt. Ltd.), Commissioner Of No. 3/1, 3Rd Main Road, Income Tax, Kiadb, Peenya, 1St Stage, Circle – 11(1), Ward No. 1, Hmt, Vs. Bangalore. Bangalore – 560 058. Pan: Aabcd0003E Appellant Respondent Assessee By : Shri Vikram, Advocate : Shri Priyadarshi Mishra, Addl. Revenue By Cit (Dr) Date Of Hearing : 22-03-2022 Date Of Pronouncement : 29-04-2022 Order Per Beena Pillaipresent Appeal Has Been Filed By The Assessee Against Order Dated 29/11/2019 Passed By The Ld.Cit(A)-2, Bangalore For Assessment Year 2009-10 On Following Consolidated Grounds Of Appeal: “1. The Order Of The Cit(Appeals) Is Contrary To Law, Facts & Circumstances Of The Case. 2. Disallowance Under Section 40(A)(I) Of The Act (Rs.2,76,24,000/-) 2.1. Disallowance U/S.40(A)(I) Unwarranted: The Cit(Appeals) Erred In Confirming The Disallowance Of Payments Made To M/S R.S Mail Limited , United Kingdom

For Appellant: Shri Vikram, Advocate
Section 234BSection 271(1)(c)Section 40

…above, the CIT(Appeals) ought to have appreciated that disallowance u/s.40(a)(i) cannot be made on the basis of retrospective amendments made by Finance Act 2010 as held in Channel Guide India Ltd. vs. ACIT (139 ITD 49 Mum) & Sterling Abrasives Ltd. vs. ITO (140 TTJ 68 Ahd.) 2.6 Exclusion clause of S.9(1)(vii)(b) applies: The CIT(Appeals) ought to have appreciated that even assuming but not conceding that the agent has carried out market survey / research for improving export of products in the Territory, such services are for the purpose of earning income from outside India and hence payment for the same does n…

T vs. ELECTRONICS LIMITED,CHENNAIVS.ACIT, CHENNAI

In the result, the appeal filed by the assessee is allowed

ITA 949/CHNY/2017[2005-06]Status: DisposedITAT Chennai24 Sept 2021AY 2005-06

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita No.:949/Chny/2017 िनधा"रण वष" / Assessment Year: 2005-06

For Appellant: Shri Vikram Vijayaraghavan, AdvocateFor Respondent: Shri G. Johnson, Addl.CIT
Section 40Section 9Section 9(1)(vii)Section 9(2)

…आयकर अपीलीय अिधकरण, ‘सी’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी वी दुगा" राव,"या"यक सद"य एवं "ी जी. मंजुनाथ, लेखा सद"य के सम" BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI G. MANJUNATHA, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.:949/CHNY/2017 िनधा"रण वष" / Assessment Year: 2005-06 M/s. TVS Electronics The ACIT, Limited, v. Corporate Circle 3(1), “Jayalakshmi Estate”, Chennai – 34. 29, (Old No.8), Haddows Road, Chennai – 600 006. PAN: AAACI 0886K (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Shri Vikram Vijayaraghavan, Advocate ""यथ" क" ओर से/Res…

SGL ENTERTAINMENT LTD,MUMBAI vs. DDIT (IT) 2(1), MUMBAI

In the result, the appeal filed by the assessee is allowed on this ground

ITA 32/MUM/2013[2008-09]Status: DisposedITAT Mumbai16 Sept 2016AY 2008-09

Bench: Shri R.C.Sharma, Am & Shri Amit Shukla, Jm आमकय अऩीर सं./Ita No.7680/Mum/2012 (नििाारण वषा / Assessment Year :2008-2009 Satellite Television Asian Vs. Ddit(International Region Limited, C/O Star India Taxation)-2(1), Scindia Private Limited, Star House, Off House, Mumbai-400038 Dr. E.Moses Road, Mahalaxmi, Mumbai-400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaacs 5680 D (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.7679/Mum/2012 (नििाारण वषा / Assessment Year :2008-09) Channel V Music Networks Vs. Asstt. Director Of Income Limited Partnership (Channel V) Tax ( International C/O Star India Pvt. Limited, Star Taxation)1 (2) Scindia House, Office Dr. E Moses House, Mumbai-400038 Road, Mahalaxmi, Mumbai- 400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. :Aaefc6136H (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.7681/Mum/2012 (नििाारण वषा / Assessment Year :2008-09) Star International Movies Vs. Ddit ( It) 2(1) Limited(Siml) C/O Star India Scindia House, Mumbai- Private Limited, Star House, Off 400038 Dr. E.Moses Road, Mahalaxmi, Mumbai-400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaics3256P (अऩीराथी /Appellant) (प्रत्मथी / Respondent) ..

Section 143(3)Section 144C(13)Section 253

…Act 2012, for years prior to A.Y. 2013-04, in view of principles laid down in the followings judicial precedents: a)B4U International Holding limited ( 52 SOT 544) Mumbai ITAT b)Channelc Guide India Limited 139 ITD 49 Mumbai ITAT c) Sterling Abrasiv Limited (140 TTJ 68) Mumbai ITAT. 7.3 On the other hand, the Ld DR for the revenue relied on the stand taken by the TPO/DRP. 7.3 We have heard both the parties on this issue, gone through the facts and circumstances of the case and perused the material available on record. We noticed that the provisions of section 195 of the Act do not apply to transaction between o…

STAR TELEVISION ENTERTAINMENT LTD ( SINCE AMALGAMATED WITH STAR INDIA P. LTD,MUMBAI vs. DDIT (IT) 2(1), MUMBAI

In the result, the appeal filed by the assessee is allowed on this ground

ITA 7684/MUM/2012[2008-09]Status: DisposedITAT Mumbai16 Sept 2016AY 2008-09

Bench: Shri R.C.Sharma, Am & Shri Amit Shukla, Jm आमकय अऩीर सं./Ita No.7680/Mum/2012 (नििाारण वषा / Assessment Year :2008-2009 Satellite Television Asian Vs. Ddit(International Region Limited, C/O Star India Taxation)-2(1), Scindia Private Limited, Star House, Off House, Mumbai-400038 Dr. E.Moses Road, Mahalaxmi, Mumbai-400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaacs 5680 D (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.7679/Mum/2012 (नििाारण वषा / Assessment Year :2008-09) Channel V Music Networks Vs. Asstt. Director Of Income Limited Partnership (Channel V) Tax ( International C/O Star India Pvt. Limited, Star Taxation)1 (2) Scindia House, Office Dr. E Moses House, Mumbai-400038 Road, Mahalaxmi, Mumbai- 400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. :Aaefc6136H (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.7681/Mum/2012 (नििाारण वषा / Assessment Year :2008-09) Star International Movies Vs. Ddit ( It) 2(1) Limited(Siml) C/O Star India Scindia House, Mumbai- Private Limited, Star House, Off 400038 Dr. E.Moses Road, Mahalaxmi, Mumbai-400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaics3256P (अऩीराथी /Appellant) (प्रत्मथी / Respondent) ..

Section 143(3)Section 144C(13)Section 253

…Act 2012, for years prior to A.Y. 2013-04, in view of principles laid down in the followings judicial precedents: a)B4U International Holding limited ( 52 SOT 544) Mumbai ITAT b)Channelc Guide India Limited 139 ITD 49 Mumbai ITAT c) Sterling Abrasiv Limited (140 TTJ 68) Mumbai ITAT. 7.3 On the other hand, the Ld DR for the revenue relied on the stand taken by the TPO/DRP. 7.3 We have heard both the parties on this issue, gone through the facts and circumstances of the case and perused the material available on record. We noticed that the provisions of section 195 of the Act do not apply to transaction between o…

SATR ASIA REGION FZ LLC (SINCE AMALGAMATED WITH STAR INDIA P.LTD),MUMBAI vs. DDIT (IT) 2(1), MUMBAI

In the result, the appeal filed by the assessee is allowed on this ground

ITA 7683/MUM/2012[2008-09]Status: DisposedITAT Mumbai16 Sept 2016AY 2008-09

Bench: Shri R.C.Sharma, Am & Shri Amit Shukla, Jm आमकय अऩीर सं./Ita No.7680/Mum/2012 (नििाारण वषा / Assessment Year :2008-2009 Satellite Television Asian Vs. Ddit(International Region Limited, C/O Star India Taxation)-2(1), Scindia Private Limited, Star House, Off House, Mumbai-400038 Dr. E.Moses Road, Mahalaxmi, Mumbai-400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaacs 5680 D (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.7679/Mum/2012 (नििाारण वषा / Assessment Year :2008-09) Channel V Music Networks Vs. Asstt. Director Of Income Limited Partnership (Channel V) Tax ( International C/O Star India Pvt. Limited, Star Taxation)1 (2) Scindia House, Office Dr. E Moses House, Mumbai-400038 Road, Mahalaxmi, Mumbai- 400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. :Aaefc6136H (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.7681/Mum/2012 (नििाारण वषा / Assessment Year :2008-09) Star International Movies Vs. Ddit ( It) 2(1) Limited(Siml) C/O Star India Scindia House, Mumbai- Private Limited, Star House, Off 400038 Dr. E.Moses Road, Mahalaxmi, Mumbai-400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaics3256P (अऩीराथी /Appellant) (प्रत्मथी / Respondent) ..

Section 143(3)Section 144C(13)Section 253

…Act 2012, for years prior to A.Y. 2013-04, in view of principles laid down in the followings judicial precedents: a)B4U International Holding limited ( 52 SOT 544) Mumbai ITAT b)Channelc Guide India Limited 139 ITD 49 Mumbai ITAT c) Sterling Abrasiv Limited (140 TTJ 68) Mumbai ITAT. 7.3 On the other hand, the Ld DR for the revenue relied on the stand taken by the TPO/DRP. 7.3 We have heard both the parties on this issue, gone through the facts and circumstances of the case and perused the material available on record. We noticed that the provisions of section 195 of the Act do not apply to transaction between o…

STAR ASIAN MOVIES LTD ( SINCE AMALGAMATED WIH STAR INDIA P. LTD),MUMBAI vs. DDIT (IT) 2(1), MUMBAI

In the result, the appeal filed by the assessee is allowed on this ground

ITA 7682/MUM/2012[2008-09]Status: DisposedITAT Mumbai16 Sept 2016AY 2008-09

Bench: Shri R.C.Sharma, Am & Shri Amit Shukla, Jm आमकय अऩीर सं./Ita No.7680/Mum/2012 (नििाारण वषा / Assessment Year :2008-2009 Satellite Television Asian Vs. Ddit(International Region Limited, C/O Star India Taxation)-2(1), Scindia Private Limited, Star House, Off House, Mumbai-400038 Dr. E.Moses Road, Mahalaxmi, Mumbai-400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaacs 5680 D (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.7679/Mum/2012 (नििाारण वषा / Assessment Year :2008-09) Channel V Music Networks Vs. Asstt. Director Of Income Limited Partnership (Channel V) Tax ( International C/O Star India Pvt. Limited, Star Taxation)1 (2) Scindia House, Office Dr. E Moses House, Mumbai-400038 Road, Mahalaxmi, Mumbai- 400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. :Aaefc6136H (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.7681/Mum/2012 (नििाारण वषा / Assessment Year :2008-09) Star International Movies Vs. Ddit ( It) 2(1) Limited(Siml) C/O Star India Scindia House, Mumbai- Private Limited, Star House, Off 400038 Dr. E.Moses Road, Mahalaxmi, Mumbai-400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaics3256P (अऩीराथी /Appellant) (प्रत्मथी / Respondent) ..

Section 143(3)Section 144C(13)Section 253

…Act 2012, for years prior to A.Y. 2013-04, in view of principles laid down in the followings judicial precedents: a)B4U International Holding limited ( 52 SOT 544) Mumbai ITAT b)Channelc Guide India Limited 139 ITD 49 Mumbai ITAT c) Sterling Abrasiv Limited (140 TTJ 68) Mumbai ITAT. 7.3 On the other hand, the Ld DR for the revenue relied on the stand taken by the TPO/DRP. 7.3 We have heard both the parties on this issue, gone through the facts and circumstances of the case and perused the material available on record. We noticed that the provisions of section 195 of the Act do not apply to transaction between o…

STAR INTERNATIONAL MOVIES LTD,MUMBAI vs. DDIT (IT) 2(1), MUMBAI

In the result, the appeal filed by the assessee is allowed on this ground

ITA 7681/MUM/2012[2008-09]Status: DisposedITAT Mumbai16 Sept 2016AY 2008-09

Bench: Shri R.C.Sharma, Am & Shri Amit Shukla, Jm आमकय अऩीर सं./Ita No.7680/Mum/2012 (नििाारण वषा / Assessment Year :2008-2009 Satellite Television Asian Vs. Ddit(International Region Limited, C/O Star India Taxation)-2(1), Scindia Private Limited, Star House, Off House, Mumbai-400038 Dr. E.Moses Road, Mahalaxmi, Mumbai-400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaacs 5680 D (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.7679/Mum/2012 (नििाारण वषा / Assessment Year :2008-09) Channel V Music Networks Vs. Asstt. Director Of Income Limited Partnership (Channel V) Tax ( International C/O Star India Pvt. Limited, Star Taxation)1 (2) Scindia House, Office Dr. E Moses House, Mumbai-400038 Road, Mahalaxmi, Mumbai- 400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. :Aaefc6136H (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.7681/Mum/2012 (नििाारण वषा / Assessment Year :2008-09) Star International Movies Vs. Ddit ( It) 2(1) Limited(Siml) C/O Star India Scindia House, Mumbai- Private Limited, Star House, Off 400038 Dr. E.Moses Road, Mahalaxmi, Mumbai-400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaics3256P (अऩीराथी /Appellant) (प्रत्मथी / Respondent) ..

Section 143(3)Section 144C(13)Section 253

…Act 2012, for years prior to A.Y. 2013-04, in view of principles laid down in the followings judicial precedents: a)B4U International Holding limited ( 52 SOT 544) Mumbai ITAT b)Channelc Guide India Limited 139 ITD 49 Mumbai ITAT c) Sterling Abrasiv Limited (140 TTJ 68) Mumbai ITAT. 7.3 On the other hand, the Ld DR for the revenue relied on the stand taken by the TPO/DRP. 7.3 We have heard both the parties on this issue, gone through the facts and circumstances of the case and perused the material available on record. We noticed that the provisions of section 195 of the Act do not apply to transaction between o…

SATELLITE TELEVISION ASIAN REGION LTD,MUMBAI vs. DDIT (IT) 2(1), MUMBAI

In the result, the appeal filed by the assessee is allowed on this ground

ITA 7680/MUM/2012[2008-09]Status: DisposedITAT Mumbai16 Sept 2016AY 2008-09

Bench: Shri R.C.Sharma, Am & Shri Amit Shukla, Jm आमकय अऩीर सं./Ita No.7680/Mum/2012 (नििाारण वषा / Assessment Year :2008-2009 Satellite Television Asian Vs. Ddit(International Region Limited, C/O Star India Taxation)-2(1), Scindia Private Limited, Star House, Off House, Mumbai-400038 Dr. E.Moses Road, Mahalaxmi, Mumbai-400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaacs 5680 D (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.7679/Mum/2012 (नििाारण वषा / Assessment Year :2008-09) Channel V Music Networks Vs. Asstt. Director Of Income Limited Partnership (Channel V) Tax ( International C/O Star India Pvt. Limited, Star Taxation)1 (2) Scindia House, Office Dr. E Moses House, Mumbai-400038 Road, Mahalaxmi, Mumbai- 400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. :Aaefc6136H (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.7681/Mum/2012 (नििाारण वषा / Assessment Year :2008-09) Star International Movies Vs. Ddit ( It) 2(1) Limited(Siml) C/O Star India Scindia House, Mumbai- Private Limited, Star House, Off 400038 Dr. E.Moses Road, Mahalaxmi, Mumbai-400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaics3256P (अऩीराथी /Appellant) (प्रत्मथी / Respondent) ..

Section 143(3)Section 144C(13)Section 253

…Act 2012, for years prior to A.Y. 2013-04, in view of principles laid down in the followings judicial precedents: a)B4U International Holding limited ( 52 SOT 544) Mumbai ITAT b)Channelc Guide India Limited 139 ITD 49 Mumbai ITAT c) Sterling Abrasiv Limited (140 TTJ 68) Mumbai ITAT. 7.3 On the other hand, the Ld DR for the revenue relied on the stand taken by the TPO/DRP. 7.3 We have heard both the parties on this issue, gone through the facts and circumstances of the case and perused the material available on record. We noticed that the provisions of section 195 of the Act do not apply to transaction between o…

CHANNEL V MUSIC NETWORKS LTD PARTNERSHIP,MUMBAI vs. ADIT IIT) 1(2), MUMBAI

In the result, the appeal filed by the assessee is allowed on this ground

ITA 7679/MUM/2012[2008-09]Status: DisposedITAT Mumbai16 Sept 2016AY 2008-09

Bench: Shri R.C.Sharma, Am & Shri Amit Shukla, Jm आमकय अऩीर सं./Ita No.7680/Mum/2012 (नििाारण वषा / Assessment Year :2008-2009 Satellite Television Asian Vs. Ddit(International Region Limited, C/O Star India Taxation)-2(1), Scindia Private Limited, Star House, Off House, Mumbai-400038 Dr. E.Moses Road, Mahalaxmi, Mumbai-400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaacs 5680 D (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.7679/Mum/2012 (नििाारण वषा / Assessment Year :2008-09) Channel V Music Networks Vs. Asstt. Director Of Income Limited Partnership (Channel V) Tax ( International C/O Star India Pvt. Limited, Star Taxation)1 (2) Scindia House, Office Dr. E Moses House, Mumbai-400038 Road, Mahalaxmi, Mumbai- 400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. :Aaefc6136H (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.7681/Mum/2012 (नििाारण वषा / Assessment Year :2008-09) Star International Movies Vs. Ddit ( It) 2(1) Limited(Siml) C/O Star India Scindia House, Mumbai- Private Limited, Star House, Off 400038 Dr. E.Moses Road, Mahalaxmi, Mumbai-400011 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaics3256P (अऩीराथी /Appellant) (प्रत्मथी / Respondent) ..

Section 143(3)Section 144C(13)Section 253

…Act 2012, for years prior to A.Y. 2013-04, in view of principles laid down in the followings judicial precedents: a)B4U International Holding limited ( 52 SOT 544) Mumbai ITAT b)Channelc Guide India Limited 139 ITD 49 Mumbai ITAT c) Sterling Abrasiv Limited (140 TTJ 68) Mumbai ITAT. 7.3 On the other hand, the Ld DR for the revenue relied on the stand taken by the TPO/DRP. 7.3 We have heard both the parties on this issue, gone through the facts and circumstances of the case and perused the material available on record. We noticed that the provisions of section 195 of the Act do not apply to transaction between o…

ASHOK PIRAMAL MANAGEMENT CORPORAITON LTD,MUMBAI vs. ACIT 6(1), MUMBAI

Accordingly confirm the order of CIT(A) deleting the addition though on a different ground pleaded by the ld. AR. Thus, this ground stands dismissed

ITA 4401/MUM/2013[2009-10]Status: DisposedITAT Mumbai17 Aug 2016AY 2009-10

Bench: Shri Jason P. Boaz & Shri Saktijit Deym/S. Ashok Piramal Management Asstt. Commissioner Of Corporation Limited Income Tax, Ward 6(1) Peninsula Spenta, 2Nd Floor Room No. 506, 5Th Floor Vs. Mathuradas Mills Compound Aayakar Bhavan Senapati Bapat Marg M.K. Road, Mumbai 400020 Lower Parel, Mumbai 400013 Pan - Aafca5278E Appellant Respondent

For Appellant: Shri Ronak DoshiFor Respondent: Shri T. Roumauan Paite
Section 143(1)Section 143(3)Section 195Section 195(1)Section 37(1)Section 40Section 9

…nt by way of Explanation to Section 9(2) of the Act, the learned A.R of the assessee placed reliance on the following judicial pronouncements of various Benches of the Tribunal: - i) Channel Guide India Ltd. (139 ITD 49) (Mum. Trib) ii) Sterling Abraive Ltd. (140 TTJ 68) (Ahmd Trib) iii) Infotech Enterprises Ltd. (160 TTJ 142( (Hyd Trib) iv) Virola International (147 ITD 519) (Agra Trib) v) Ajit Ramakant Phatarpekar (154 ITD 144) (Panaji Trib) The learned D.R., though, relied upon the observations of Departmental authorities, however, he agreed that the issue is covered in favour of the assessee by the decisions…