TaxTMI 
TaxTMI 
2012 (8) TMI 366
X X X X Extracts X X X X
X X X X Extracts X X X X
....M. This appeal preferred by the assessee is directed against the order dated 7-4-2011 passed by the ld. CIT (A)-13, Mumbai for the A.Y. 2004- 05 taking the following ground of appeal:- "On the facts and circumstances of the case and in law, the learned Commissioner of Income-tax (Appeals) - 13 [CIT (A)] erred in confirming the following ground: The CIT (A) has erred on facts and in law b....
X X X X Extracts X X X X
X X X X Extracts X X X X
....T(A) be deleted. 3. On the other hand, the ld. D.R. supports the order of the A.O. and the ld. CIT(A). 4. We have carefully considered the submissions of the rival parties and perused the material available on record. The undisputed facts of the case in brief are that the assessee company is a fully owned subsidiary of Yahoo. Inc. USA which is engaged in the business of providing consumer servic....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ndered by it for uploading and display of the banner advertisement on its portal was in the nature of business profit and not royalty and such payment was not chargeable to tax in India as the recipient has no PE in India and, therefore, assessee was not liable to deduct tax at source from the payment for such services and the same cannot be disallowed by invoking the provisions of section 40(a)(i....