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2016 (5) TMI 117 - HC - Income TaxDisallowance u/s 37 - allowable business expenditure - Held that:- We find that two Authorities have taken a concurrent view that the expenditure of ₹ 1.13 crores is for business purposes i.e. increasing its sales and was in fact incurred. Therefore, allowable as deduction under Section 37 of the Act. The view taken by the Commissioner of Income Tax (Appeals) as well as the Tribunal is essentially a finding of fact. The view taken is a possible view on the facts and the same has not been shown to be perverse and / or arbitrary in any manner. - Decided in favour of assessee Fees for technical services - tds liability - nature of payment - disallowance u/s 40(a)(i) - Held that:- The issue raised herein stands concluded against the Revenue and in favour of the respondent assessee by the decision of this Court in CIT Vs. Gujarat Reclaim & Rubber Products Ltd. (2015 (12) TMI 1078 - BOMBAY HIGH COURT) and Director of Income Tax (IT)I Vs. M/s. Credit Lyonnais (2016 (3) TMI 735 - BOMBAY HIGH COURT) wherein held there was no occasion to deduct tax at source in respect of the payment made to the nonresident agent. The income of nonresident commission agent cannot be considered as income arising or accruing in India. Therefore, the provisions of Section 40(a)(i) would have no application - Decided in favour of assessee
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