https://www.taxtmi.com/caselaws?id=276628 The Appellate Tribunal ITAT New Delhi ruled in favor of the Assessee, deleting the addition of Rs. 6 crores payable by Nelia Retail Pvt. Ltd. to Sports Station Pvt. Ltd. as income, as it had already been taxed in the hands of the holding company. Additionally, the compensation received on account of "store deposit" under the Transfer Agreement was considered an advance and not business income, leading to its deletion as income. The Tribunal allowed the Assessee's appeal, pronouncing the judgment on 29-09-2016. en-us Thu, 29 Sep 2016 00:00:00 +0530 Thu, 15 Nov 2018 07:19:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276628 The Appellate Tribunal ITAT New Delhi ruled in favor of the Assessee, deleting the addition of Rs. 6 crores payable by Nelia Retail Pvt. Ltd. to Sports Station Pvt. Ltd. as income, as it had already been taxed in the hands of the holding company. Additionally, the compensation received on account of "store deposit" under the Transfer Agreement was considered an advance and not business income, leading to its deletion as income. The Tribunal allowed the Assessee's appeal, pronouncing the judgment on 29-09-2016. Case-Laws Income Tax Thu, 29 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276628