9911796707
TMI Blog2014 (3) TMI 537X X X X Extracts X X X X X X X X Extracts X X X X ..... d in India after having received in another country was not assessable in India. It is a matter of fact that the amount was received in various tranches in the bank account maintained by the assessee abroad – thus, it cannot be said that the amount was received in India - Thus, the amount was received outside India is remitted to India on the subsequent dates - Decided in favour of Assessee. - ITA No.2455/Del./2011 - - - Dated:- 14-3-2014 - Shri R. P. Tolani And Shri B. C. Meena,JJ. For the Petitioner : Dr. Rakesh Gupta Shri Ashwani Taneja, Advocates and Shri Somil Agarwal, CA For the Respondent : Shri Ramesh Chandra,CIT DR ORDER Per B. C. Meena, Accountant Member : This appeal filed by the assessee emanates from the order of the CIT (A)-XXII, New Delhi dated 15.03.2011 for the Assessment Year 2006-07. 2. The assessee is an individual. The assessee was settled in USA from July 1994 to August 2004 and was also holding Green Card. The assessee returned to India. The assessee had been in India for 331 days in the immediate seven preceding financial years. The assessee was non-resident in 9 out of 10 preceding years under consideration. The assessee v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eipt of Rs.8,10,00,000/- as income chargeable to tax in India, is bad in law and against the facts and circumstances of the case in any case, impugned addition of Rs.8,10,00,000/- could not be made was not factually and legally sustainable. 5. That having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in not reversing the action of Ld. AO in charging interest u/s 234B of the Income Tax Act, 1961. 6. That the appellant craves the leave to add, modify, amend or delete any of the grounds of appeal at the time of hearing and all the above grounds are without prejudice to each other. 4. While pleading on behalf of the assessee ld. AR submitted that the effective dispute involved in the appeal is regarding the taxability of an amount of Rs.8.10 crores whether it is chargeable to tax in India or not. Ld. AR submitted that the Assessing Officer made an addition of Rs.8.10 crores to the income of the assessee as income deemed to accrue or arise in India as per section 9(1)(vii)(c) of the Income-tax Act, 1961 on the ground that it represented fee for technical services received by the assessee for the purpose of making or earning inco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd submitted that there was no evidence to services rendered outside of India. Further, this amount has been received in India only as it was deposited in assessee account just before transfer to Indian account. He finally pleaded that the amount was rightly taxed in the hands of the assessee and the order of the authorities below deserve to be affirmed. 6. We have heard both the sides and also gone through the paper book filed before us. We have also gone through the synopsis filed by both the sides. We have also gone through the decisions relied upon before us and the contentions canvassed before us. The main issue involved in the appeal is whether the amount received by the assessee is taxable in the hands of the assessee as per Income-tax Act, 1961 in India. As per section 5(1) of the Income-tax Act, 1961, the total income of a resident includes all income from whatever source which is received or deemed to be received in India or accrues or arises or deemed to accrue or arise to him in India or accrues or arises to him outside in India. However, there is a proviso to this section which provides that in case of a person not ordinarily resident in India within the meaning of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 69 of the paper book respectively. Page 68 of the paper book is a letter from Certified Public Accountant USA which confirms that the nature of services rendered by the assessee outside India and the remuneration received for the same by the assessee. Various submissions made by the assessee before the Assessing Officer as well as the CIT (A) which are placed at various pages of the paper book like 10, 15 to 17, 19 to 28, 40 - 41 and 56 to 62 which explains the nature of the services rendered by the assessee outside India. Explaining some doubt regarding the services, the revenue could not controvert the evidences made by the assessee in this regard. Only doubt has been raised that no evidence for services rendered abroad. However, such evidences of the revenue authorities are without any cogent basis or material or evidence. These observations are just based on the conjectures. The evidences placed by the assessee establishes the nature and fact of services rendered by the assessee abroad for setting up of Mauritius investment mutual fund and providing services to find out seed investors abroad. In view of these facts, we hold that the assessee rendered services in relation to se ..... X X X X Extracts X X X X X X X X Extracts X X X X
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