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The Commissioner of Income Tax, The Deputy Commissioner of Income Tax Versus M/s Associated Electronics & Electrical Industries (Bangalore) Pvt. Ltd.

2015 (12) TMI 48 - KARNATAKA HIGH COURT

Taxability of income - provisions of Block assessment could not be invoked as per ITAT? - sum paid by “Sharp Corporation, Japan” to the assessee for transfer of the right to use the trade mark “SHARP” which consisted of both goodwill as well as the r .....

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y a year before the search was conducted. A categorical finding of fact has been recorded by the Tribunal with regard to the disclosure of the receipt of such amount through banking channels by the assessee, which is to the effect that, “When the amo .....

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ction 158-B(b)”.

As the appellants has not been able to satisfy us that there was non-disclosure of the aforesaid amount having been received by the assessee in the returns filed by the assessee for the relevant assessment year. - Decided .....

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substantial questions of law: a) Whether the Tribunal was correct in holding that a sum of ₹ 3,99,75,400/- paid by Sharp Corporation, Japan to the assessee for transfer of the right to use the trade mark SHARP which consisted of both goodwill a .....

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Tribunal was in holding that the entire amount was paid by Sharp Corporation, Japan, through proper banking channel and therefore, provisions of Block assessment could not be invoked by ignoring the fact that pursuant to search and seizure the docume .....

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rst question raised in this appeal relates to the merit of the case whereas the second question goes to the root of the matter as to whether the amount in question ie., ₹ 3,99,75,400/- received by the assessee from Sharp Corporation, Japan was .....

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assessment year 1996-97 was filed by the assessee on 2/12/1996, which was nearly a year before the search was conducted. A categorical finding of fact has been recorded by the Tribunal with regard to the disclosure of the receipt of such amount throu .....

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