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2014 (9) TMI 58 - DELHI HIGH COURTTDS not deducted u/s 195 - Amount paid to non-resident foreign company – Interpretation of section 40(a)(i) and 9(1)(v) – Held htat:- Revenue has not placed the relevant documents under which the payments were made or relating to the settlement. Revenue has not placed even copy of the report given by the DCIT - Full particulars and details regarding the purchase price, whether there was specific stipulation regarding delayed payment, consequences, when did the title in the goods pass to the respondent assessee etc. are not on record and not discussed in the assessment order - in the absence of the details and documents and keeping in mind the findings of fact recorded by the Tribunal, it is difficult to answer the questions and issues - the provision was not specifically invoked by the AO - taxability would depend on whether the income was exempt u/s 10(15)(iv)(c) of the Act - The assessment order is woefully silent and quiet on the material aspects - the amount paid was in settlement of delayed payment for the goods purchased and was not paid in respect of any borrowing made from the Kashpo International Ltd. – Decided against Revenue.
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