9911796707
TMI Blog2022 (9) TMI 1X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee. DR could not controvert the above decision of the Tribunal by filing any higher Court s decision having modified or reversed the order of the Tribunal. Respectfully following the above decisions of the Tribunal, the ld. CIT(A) has rightly deleted the disallowance made by the Assessing Officer towards payment of royalty. Thus, we find no reason to interfere with the order passed by the ld. CIT(A). Accordingly, the ground raised by the Revenue is dismissed. - I.T.A. No. 433/Chny/2021 - - - Dated:- 29-7-2022 - Shri V. Durga Rao, Judicial Member And Shri G. Manjunatha, Accountant Member For the Appellant : Shri M. Rajan, CIT. For the Respondent : Shri Raghav Rajeev Menon, Advocate. ORDER PER V. DURGA RAO, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Officer has completed the assessment under section 143(2) of the Act on 31.12.2019 determining a total income of ₹.914,10,63,993/- after making various additions including disallowance of royalty paid and claimed by the assessee. 3.1 With regard to the disallowance of royalty paid, the assessee has claimed an amount of ₹.49,08,44,590/- as royalty paid to Shriram Ownership Trust as per agreement entered into on 01.10.2014, which was classified as payment to related party. The assessee was requested to explain the purpose of this royalty payment and justification for the same and as to why it should not be treated as capital in nature as per provisions of section 32 of the Act. After considering the submissions of the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .T.A. No.2009/Chny/2019 vide order dated 22.10.2019, wherein, the Tribunal has observed and held as under: 7. We have heard the rival contentions and perused the material available on record. A perusal of the order of the Tribunal dated 24.05.2018 referred to supra shows that the Tribunal has followed the decision of the Co-ordinate Bench of the Tribunal in ITA No.728/Mds./2016 for assessment year 2012-13. The relevant portion of Revenue s appeal in ITA No.728/Mds/2016 dated 24.08.2016 for assessment year 2012-13 in the case of M/s Shriram Transport Finance Co. Ltd., is extracted as under:- 26. The next ground of appeal is with regard to addition made on account of royalty to the extent of Rs.13,75,69,684/-. 27. Dr. U. Anja ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the CIT(Appeals) has rightly found that the payment made by the assessee is in the revenue field. In fact, similar addition made by the Assessing Officer for the assessment year 2002-03 was deleted by this Tribunal. The CIT(Appeals) by placing reliance on the order of this Tribunal in Shriram Tamil Nadu Pvt. Ltd., allowed the claim of the assessee. Therefore, this Tribunal do not find any reason to interfere with the order of the lower authority and accordingly the same is confirmed. As it is noticed that the issue in the Revenue s appeals is now squarely covered by the decision of the Tribunal in assessee s own case for the earlier assessment years, respectively following the decision of the Coordinate Bench of the Tribunal, the fin ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
