TMI Blog2016 (1) TMI 503X X X X Extracts X X X X X X X X Extracts X X X X ..... ts subsidiary (i.e., the assessee) so as to be construed as technical services rendered to a resident under Section 194-J of the Act. Revenue has also not been able to show how procurement of ready study data by the parent company, from another foreign company, and supplying it to the assessee amounts to services rendered to a resident attracting Section 194-J of the Act. The Tribunal is the final court of facts and, as the finding recorded by it is on the basis of the material on record, the order under appeal cannot be said to be perverse. - Decided in favour of assessee - I.T.T.A.No.382 of 2015 - - - Dated:- 7-12-2015 - SRI JUSTICE RAMESH RANGANATHAN AND SRI JUSTICE S. RAVI KUMAR JUDGEMENT Per : Ramesh Ranganathan : ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6/- under Section 201(1) and interest of ₹ 17,97,136/- under Section 201(1A) of the Act. The assessee s appeal was rejected by the Commissioner of Income Tax Appeals, though the assessee contended that their parent company M/s.Alkor Petroo Limited had not rendered any technical services to them; M/s.Alkor Petroo Limited obtained technical data from M/s.Hardi Exploration and Production (Hardi UK) in the year 2004; for the technical services rendered by the latter to the former, payment was made outside India by the parent company to M/s.Hardi UK; the parent company M/s.Alkor Petroo Limited had merely passed on such technical data to the assessee company; and they never rendered any technical services which attracted the provisions of S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as well as the ledger account of Hardi U.K in the books of M/s.Alkor Petroo Limited, the Tribunal held that it was clearly established that it was merely reimbursement of the amounts paid by M/s.Alkor Petroo Limited to the Hardi U.K, and the same was reflected as a loan; it was neither reflected as expenditure or as income in the books of accounts of M/s.Alkor Petroo Limited; and there was no liability of making any TDS when payment was made by way of reimbursement of expenses. Sri B.Narasimha Sarma, Learned Senior Standing Counsel for the Income- Tax Department, would reiterate the very same submissions urged on behalf of the Revenue before the Tribunal. From a perusal of the order under appeal, it is clear that the ready study data ..... X X X X Extracts X X X X X X X X Extracts X X X X
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