2012 (11) TMI 1228

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..... to pay tax at source, on failure on the part of the payee, no interest u/s. 234B - income of the assessee arising on account of “Royalty and Fees for Technical Services” is taxable on receipt basis and not on accrual basis
J. P. Devadhar And M. S. Sanklecha, JJ. For the Appellant : Suresh Kumar For the Respondent : P. J. Pardiwala, Sr. Advocate with Sameer Chitnis i/by Crawford Bayley & Co. .....

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..... the circumstances of the case and in law the ITAT was justified in holding that the income of the assessee arising on account of "Royalty and Fees for Technical Services" is taxable on receipt basis and not on accrual basis as held by the Assessing officer in the assessment order"? 2) As regards the first question is concerned, Counsel for the parties state that the said question stands answered .....

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