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TMI Blog2024 (8) TMI 1431X X X X Extracts X X X X X X X X Extracts X X X X ..... i/b Lumiere Law Partners for Respondent ORDER P. C. 1. The following questions of law are proposed: "1. Whether on facts and circumstances of the case and in law, the Hon. ITAT has erred in holding that the Royalty agreement dated 01.04.2008 is a new agreement and not an extension of the License and Technical Assistance agreement dated 27.03.1998 and apply tax rate of 10.56% under section 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent was made to the value of international transactions of the assessee. Various issues came up for consideration but the appeal is restricted to the application of tax under Section 115A of the Act. The assessee and its AEs had entered into an agreement dated 26th March 1998 valid for a period of 10 years. The parties entered into another agreement dated 1st April 2008 for a period of 10 years. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d hence needs no interference. No independent findings were given. 3. Appellant carried the matter to the Income Tax Appellate Tribunal (ITAT), which, by its order and judgment pronounced on 21st March 2017, accepted the submissions of the assessee that the agreement dated 1st April 2008 was a separate and independent agreement and not an extension of the agreement dated 26th March 1998. 4. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wheelers under Ape brand which was different from Ape 501 and Ape 601 brands, which it could not have done under the old agreement. The ITAT also observed that the territory which was covered under the old agreement was different from the territory that was covered under the new agreement and so on. 5. In view of these differences, the ITAT came to the conclusion that the agreement dated 1st Apri ..... X X X X Extracts X X X X X X X X Extracts X X X X
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