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2012 (12) TMI 22 - AT - Income TaxPlea for rectification u/s 254 in order passed by Tribunal - main contention raised by Revenue was that the Distribution Agreement entered into between the two related parties was liable to question on ground that agreement did not contain any formula for sharing the profits between the two related parties and hence it allowed the parties to plan their affairs so as to ensure high margins to the UAE entity - Held that:- It is found that this aspect was decided by the Tribunal and it is noted by the Tribunal that the assessee company has executed proper distribution agreement with Vega UAE based on the ground that Vega UAE is carrying both the inventory risk as well as credit risk. This finding is given by the Tribunal after examining the facts of the present case. Also, clear finding given by the Tribunal that assessee company has entered into a valid and proper distribution agreement with Vega UAE and had been adhered to also. Hence, it is not proper to say that this issue was not discussed and decided. Hence, Revenue in M.A. has not established any apparent mistake in the Tribunal’s order and therefore, no rectification in this Tribunal’s order is called for u/s 254(2)
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