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COMMISSIONER OF INCOME TAX (TDS) Versus HERAMEC LTD

2016 (1) TMI 503 - ANDHRA PRADESH HIGH COURT

TDS u/s 194J - procurement of ready study data by the parent company, from another foreign company, and supplying it to the assessee amounts - Non deduction of tds on technical services rendered to a resident - Held that:- As the ready study data, purchased by M/s.Alkor Petroo Limited from M/s.Hardi Exploration and Production (Hardi UK), was supplied by them to their subsidiary i.e., the assessee; and the amount paid by M/s.Alkor Petroo Limited to Hardi UK was reimbursed by the assessee four yea .....

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g 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 : This appeal, under Section 260-A of the Income Tax Act, is preferred against the order passed by the Income Tax Appellate .....

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ilizing the said loan amount, purchased technical data from M/s.Hardi Exploration and Production (Hardi UK). This technical data was given by M/s.Alkor Petroo Limited to its subsidiary (the assessee), and the account of the assessee was debited with this amount in the books of accounts of M/s.Alkor Petroo Limited. This amount was recovered, in the subsequent year, from the assessee company by its parent company M/s.Alkor Petroo Limited treating the amount of ₹ 4,40,60,426/- (as against the .....

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d 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 .....

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kor Petroo Limited to the assessee; the ready study data, acquired by M/s.Alkor Petroo Limited, was purchased by the assessee; payment made on such purchases did not attract TDS; no services of any sort were rendered by M/s.Alkor Petroo Limited to the assessee, to be construed as technical services rendered to a resident under Section 194-J of the Act; the assessing officer had wrongly levied tax under Section 201 of the Act, and interest thereon; rendering technical services is essential in ter .....

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was erroneous. After perusing copies of the ledger accounts of the assessee, in the books of M/s.Alkor Petroo Limited, 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; an .....

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