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Showing 1 to 20 of 169 Records Search Text: yum restaurants india |
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2016 (1) TMI 582 - DELHI HIGH COURT Carry forward accumulated business losses - change in shareholding - Held that:- As there was indeed a change of ownership of 100% shares of Yum India from Yum Asia to Yum Singapore, both of which were distinct entities. Although they might be AEs of Yum USA, there is nothing to show that there was any agreement or arrangement that the beneficial owner of such shares would be the holding company, Yum USA. The question of 'piercing the veil' at the instance of Yum India does not arise. In the cir... ... ...
2022 (10) TMI 256 - ITAT DELHI TDS u/s 194I OR 194C - deductibility of the tax on the entire payment as rent or to be segregated into rent and CAM - HELD THAT:- While the lease rentals are paid based on a fixed percentage on the net revenue, the CAM charges are based on the per sq. ft. area. The observation of the CIT(A) is that the rent by any name, lease, sub-lease, tenancy or the reliance on the judgment wherein the services are intrapolated into the rent stand on a different pedestal. In the instant case, the determinatio... ... ...
2020 (12) TMI 517 - DELHI HIGH COURT TP Adjustment - ITAT has remanded the matter back to TPO and directed it to consider the combined effect of 14 factors for determining the cost/ value of international transactions in accordance with order passed immediately preceding year of the respondent-assessee in LG Electronics India Pvt. Ltd. [ 2013 (6) TMI 217 - ITAT DELHI] - HELD THAT:- The said judgment of the Special Bench has already been set aside [ 2016 (1) TMI 582 - DELHI HIGH COURT] TPO is directed to determine the cost/ value of... ... ...
2018 (10) TMI 1615 - NATIONAL ANTI-PROFITEERING AUTHORITY Profiteering - restaurant service - benefit of reduction of tax from 18% to 5% not passed to customers - it was also alleged that Respondent was illegally profiteering by appropriating the amount of reduction of tax by fleecing the poor customers as he was denying them the benefit of reduction - Held that:- The investigation conducted in the matter by the Applicant No. 2 against the Respondent No. 1 could not establish profiteering for want of credible evidence and hence no violation of the prov... ... ...
2018 (2) TMI 1701 - ITAT DELHI Disallowance of lease rent - Held that:- CIT has allowed the assessee a deduction of Rs. 2,40,000/- per annum for both the years under consideration and has disallowed the remaining amount i.e. Rs. 12.60 lakh. During the course of proceedings before us, the Ld. AR has only relied on the findings of the ITAT in assessee’s own case for earlier years as aforementioned and he has not brought out any new fact or evidence in support of his contention for allowance of an amount exceeding Rs. 2,40,000/-... ... ...
2014 (12) TMI 600 - ITAT DELHI Transfer pricing adjustment - Disallowance of excessive AMP expenses - Advertisement Marketing and Sales Promotion - assessee has a license arrangement with YRAPL for operation of various KFC and PH outlets in India – Held that:- In LG. Electronics India P. Ltd. Versus Assistant Commissioner of Income-tax [2013 (6) TMI 217 - ITAT DELHI] it has been held that incurring of AMP expenses towards promotion of brand, legally owned by the foreign AE, constitutes a ‘transaction’ - the TPO did not have t... ... ...
2015 (4) TMI 698 - MADRAS HIGH COURT Whether the goods purchased by the petitioner for carrying on its business activities, are eligible for issuance of C Forms and whether it has to be appreciated by the authority concerned by examining the nature of goods purchased - Held that:- The first respondent would state that the petitioner is a manufacturer of Food items and Fried Chicken, the items purchased do not come within the purview of Section 8(3)(b) of the Act. However, such a decision was taken without affording a reasonable opp... ... ...
2005 (5) TMI 55 - DELHI High Court Issuance of direction of special audit - Whether the maxim audi alteram partem, if at all and to what extent is applicable to the proceedings before the Assessing Officer while passing a direction as contemplated under section 142(2A) - It is not in dispute before us that the annual turnover of the assessee for the relevant assessment period is more than Rs. 20 crores, while the return submitted by them shows "nil" income. Formation of opinion on the part of the Assessing Officer in the facts an... ... ...
2023 (2) TMI 58 - ITAT DELHI TDS u/s 194C or 194I - account of CAM charges - Commissioner affirmed the action of the AO in holding that CAM charges paid by the Assessee are part of rent, liable for TDS u/s 194-I however, held that if the deductee has paid tax on the CAM charges received from the Assessee, then the Assessee cannot be treated as Assessee in default - HELD THAT:- In the instant case it is an admitted fact, as not refuted by the learned DR, that the Assessee has deducted TDS u/s 194C of the Act, and the facts a... ... ...
2023 (10) TMI 270 - ITAT DELHI TDS u/s 194C or 194I - tax liability on CAM charges - short deduction of TDS - Demand u/s. 201(1A) holding the Assessee to be Assessee in default - HELD THAT:- By respectfully following the order of case of Yum Restaurants India [ 2022 (10) TMI 256 - ITAT DELHI] and also the order passed in Assessee s own case for A.Y 2012-13 [ 2023 (2) TMI 58 - ITAT DELHI] we hold that the provisions for rent are governed by Section 194-I and CAM charges by Section 194C of the Act, accordingly, we allow the Gro... ... ...
2022 (2) TMI 1325 - ITAT DELHI Carry forward and set off of losses in the case of certain companies - set off of brought forward losses u/s 79 on the ground that there has been change in the shareholding - CIT-A after noting the shareholding pattern, held that through-out the holding company was WSP Cyprus and the change in ultimate holding company form WSP UK does not affect the shareholding of WSP Cyprus in the assessee company - HELD THAT:- There is no change in the shareholding of the Assessee company, i.e. WSP Cyprus hel... ... ...
2023 (3) TMI 850 - ITAT DELHI TDS u/s 194I/194C - TDS on rent and CAM charge [Common Area Maintenance] - HELD THAT:- As decided in Yum Restaurants India (P.) Ltd [ 2022 (10) TMI 256 - ITAT DELHI] while the lease rentals are paid based on a fixed percentage on the net revenue, the CAM charges are based on the per sq. ft. area. The observation of CIT(A) is that the rent by any name, lease, sub-lease, tenancy or the reliance on the judgment wherein the services are intrapolated into the rent stand on a different pedestal. In th... ... ...
2015 (9) TMI 138 - ITAT DELHI Addition on account of advertisement & publicity expenses - CIT(A) deleted the addition - Held that:- As decided in assessee's own case for the assessment years 2001-02 and 2002-03 the expenditure on publicity and advertisement is to be treated as revenue in nature allowable fully in the year in which it was incurred. Concededly, there is no advantage which has accrued to the assessee in the capital field. The expenditure was incurred to facilitate the assessee’s trading operations. No fixed cap... ... ...
2021 (9) TMI 952 - ITAT MUMBAI Set off of brought forward losses denied - agreement between the holding company and subsidiary companies - change in the shareholding pattern of the assessee during the assessment year post merger - provisions of section 79 should not be applied and set off of brought forward losses be denied - HELD THAT:- Effectively there is no change as far as the voting pattern and beneficial ownership as far as shareholding pattern in the assessee-company as on 31.03.2013. The shareholding pattern of TRIL ... ... ...
2018 (7) TMI 2297 - ITAT BANGALORE TP Adjustment - Incurring of AMP expenditure - whether the TPO was justified in making ALP adjustment in respect of alleged expenditure incurred on AMP functions? - HELD THAT:- The important fact to be taken into consideration is that the assessee was assured of minimum return on distribution business. These facts, no doubt, trigger an enquiry into the real nature of relationship between assessee and its AE i.e. whether it is distributor or a trader. The real economic substance of transaction is... ... ...
2024 (9) TMI 421 - ITAT DELHI TDS u/s 194C OR 194I - payment of Common Area Maintenance ( CAM ) -Applicability of correct TDS provision - assessee-in-default u/s 201(1) - short deduction of TDS - HELD THAT:- We find that the issue involved in this case is covered by a series of decisions of Co-ordinate Benches of ITAT in the case of Connaught Plaza Restaurants P. Ltd [ 2022 (1) TMI 409 - ITAT DELHI ] CAM charges paid by it were liable for deduction of tax at source @2%, i.e., u/s. 194C of the Act as CAM charges paid by the a... ... ...
2016 (12) TMI 1545 - ITAT MUMBAI Disallowance of hotel expenses as being not incurred for purpose of business - "wholly and exclusively" - company has incurred hotel expenses for stay of Shri Samyak Veera,NRI, who stayed in India as a strategic investor for monitoring project in India - Held that:- The expenditure incurred being “wholly and exclusively does not mean that it has to be incurred necessarily. The expression "wholly and exclusively" used in section 37 of the IT. Act does not mean necessarily and the payments made vo... ... ...
2023 (3) TMI 101 - ITAT DELHI TDS u/s 194C OR 194I - deductibility of TDS on rent and CAM - AR has submitted that payment of CAM charges is nothing but reimbursement of common area maintenance expenses incurred by the lessor on general maintenance, electric, water and security services etc. - HELD THAT:- We find that the issue of deductibility of tax on rent and CAM was examined by the Tribunal in the case of Connaught Plaza Restaurants P. Ltd. [ 2022 (1) TMI 409 - ITAT DELHI] , Lifestyle International Pvt. Ltd. [ 2022 (5) T... ... ...
2021 (12) TMI 447 - ITAT MUMBAI Revision u/s 263 - As per CIT A.O had not deliberated on the provisions of Sec.79 and not conducted any inquiry qua the set-off of the brought forward losses of the previous year against its income for the year under consideration - HELD THAT:- As decided in Amco Power Systems ltd.[ 2015 (10) TMI 2385 - KARNATAKA HIGH COURT] as the control of the assessee company before them remained with the holding company as the change in the shareholding had not resulted in reduction of its voting power to l... ... ...
2006 (10) TMI 107 - DELHI High Court The court dismissed both writ petitions, ruling that the decision to order a special audit under section 142(2A) of the Income-tax Act was valid. The court found that the principles of natural justice were not violated despite the lack of interaction between the petitioner and the Assessing Officer. Additionally, the court determined that there was due application of mind by the statutory authorities in issuing the impugned orders. The respondents were awarded costs of Rs. 5,000 for each writ petition.
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