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2016 (1) TMI 503 - HC - Income TaxTDS u/s 194J - procurement of ready study data by the parent company, from another foreign company, and supplying it to the assessee amounts - Non deduction of tds on technical services rendered to a resident - Held that:- As the ready study data, purchased by M/s.Alkor Petroo Limited from M/s.Hardi Exploration and Production (Hardi UK), was supplied by them to their subsidiary i.e., the assessee; and the amount paid by M/s.Alkor Petroo Limited to Hardi UK was reimbursed by the assessee four years thereafter in the year 2008. It is evident, therefore, that no services were rendered by the parent company (M/s.Alkor Petroo Limited) to its subsidiary (i.e., the assessee) so as to be construed as technical services rendered to a resident under Section 194-J of the Act. Revenue has also not been able to show how procurement of ready study data by the parent company, from another foreign company, and supplying it to the assessee amounts to services rendered to a resident attracting Section 194-J of the Act. The Tribunal is the final court of facts and, as the finding recorded by it is on the basis of the material on record, the order under appeal cannot be said to be perverse. - Decided in favour of assessee
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