2024 (3) TMI 621

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..... relationship between the assessee and the distributor is that of Principal to Principal OR Principal to Agent - as decided by HC [ 2023 (8) TMI 456 - KARNATAKA HIGH COURT] inventory risk after acquiring the product is that of the distributor. Payment from the distributor to assessee has no link with the further sales made by the distributor. commission or brokerage is described in explanation to S .....

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..... e following. Delay condoned. Mr. Rupesh Kumar, learned senior counsel for the petitioner submits that the matter is covered by the decision of this Court in Bharti Cellular Limited (Now Bharti Airtel Limited) vs. Assistant Commissioner of Income Tax, Circle 57, Kolkata and Another reported in 2024 INSC 148. In view of the statement made, Special Petition is dismissed as being covered by the above- .....

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