https://www.taxtmi.com/caselaws?id=447356 The Tribunal upheld the CIT(A)'s decision to delete the Rs. 47.07 crore addition made by the AO for the Assessment Year 2010-11. The AO's addition was based on a collaboration agreement between the respondent/assessee and MGF Development Ltd. for a hotel project, which the appellant/revenue claimed was a sham transaction. The Tribunal found the agreement genuine, noting MGF's provision of funds, technical support, and brand value. It concluded that the revenue-sharing was commercially expedient, and no substantial question of law arose, thus dismissing the appeal. en-us Fri, 01 Dec 2023 00:00:00 +0530 Sat, 23 Dec 2023 13:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447356 The Tribunal upheld the CIT(A)'s decision to delete the Rs. 47.07 crore addition made by the AO for the Assessment Year 2010-11. The AO's addition was based on a collaboration agreement between the respondent/assessee and MGF Development Ltd. for a hotel project, which the appellant/revenue claimed was a sham transaction. The Tribunal found the agreement genuine, noting MGF's provision of funds, technical support, and brand value. It concluded that the revenue-sharing was commercially expedient, and no substantial question of law arose, thus dismissing the appeal. Case-Laws Income Tax Fri, 01 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447356