GUALA CLOSURES (INDIA) PVT. LTD.,PANAJI vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX, PANAJI., SELECT CITY
Appeal is dismissed in above terms
ITA 205/PAN/2019[2012-13]Status: DisposedITAT Panaji13 Oct 2023AY 2012-13
Bench: Shri Satbeer Singh Godara & Dr. Dipak Ripote
For Appellant: Shri Ketan VedFor Respondent: Shri P.S. Shivshankar, CIT-DR
Section 143(3)Section 144(3)Section 144CSection 253Section 263Section 4
carrying on business and to maintain assets in their existing condition. It doesn't increase the profit earning capacity but merely maintains it at existing level. It is used in the sense of immediate or short term benefit.
Several case laws have been cited by the assessee in support of its contention that the assessee is paying royalty for right
