https://www.taxtmi.com/caselaws?id=267991 The High Court upheld the lower authorities' findings that the assessee was entitled to receive only USD 22,500, not USD 45,000, from Joint Venture Companies for franchise fees. The Court confirmed that no real income accrued to the assessee, dismissing the Revenue's claim of a discrepancy in income. The appeal was dismissed as no legal question arose, affirming that the assessee did not remit USD 45,000 to its parent company due to a government embargo, as evidenced by the findings of the Tribunal and CIT (A). en-us Thu, 05 Nov 2015 00:00:00 +0530 Wed, 18 Nov 2015 09:37:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267991 The High Court upheld the lower authorities' findings that the assessee was entitled to receive only USD 22,500, not USD 45,000, from Joint Venture Companies for franchise fees. The Court confirmed that no real income accrued to the assessee, dismissing the Revenue's claim of a discrepancy in income. The appeal was dismissed as no legal question arose, affirming that the assessee did not remit USD 45,000 to its parent company due to a government embargo, as evidenced by the findings of the Tribunal and CIT (A). Case-Laws Income Tax Thu, 05 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267991