Court Grants Appeal Delay Condonation; Tribunal's Decision on Advertising Expenses Stands; Future Revival Possible.

Principal Commissioner Of Income Tax-7, Delhi Versus M/s. Timex Group India Ltd.

Principal Commissioner Of Income Tax-7, Delhi Versus M/s. Timex Group India Ltd. - TMI Issues involved: Application for condonation of delay in filing the appeal, Assessment Year (AY) 2009-10 appeal concerning the order passed by the Income Tax Appellate Tribunal on Advertising, Marketing, and Promotion expenses as international transactions.

Condonation of Delay in Filing the Appeal:
An application was filed seeking condonation of a 42-day delay in filing the appeal. The court, considering the period involved, decided to allow the application, subject to exceptions. The delay was condoned, and the application was disposed of accordingly.

Assessment Year (AY) 2009-10 Appeal:
The appeal pertained to AY 2009-10 and aimed to challenge the order issued by the Income Tax Appellate Tribunal. It was noted that a similar issue had arisen in a previous appeal for AY 2010-11, indicating that the current appeal would face a similar outcome. The core issue revolved around whether the Tribunal erred in ruling that Advertising, Marketing, and Promotion expenses did not qualify as international transactions. The court referred to past decisions to support its conclusion. Ultimately, based on the existing legal position, the appeal was closed.

Special Leave Petition and Future Course of Action:
It was mentioned that the appellant/revenue had filed an appeal against a specific decision. If success was achieved in the pending Special Leave Petition, the appellant would have the liberty to seek revival of the current appeal. The Registry was directed to send a copy of the order to the respondent/assessee through various modes, including email.