2013 (5) TMI 532

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e appeal against the orders of the CIT (A)-4 Mumbai, dated 08.08.2011. The issue in this appeal is with reference to the claim of non reimbursable tax of  Rs.18,86,481 paid to Master Cards/Visa Cards included under the head "Operating Expenses". Assessee claimed that as per the agreement with Visa/Master Cards, the company is required to make payment without deduction of tax and therefore, su....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the sake of record the order in AY 2007-08 vide Para No.4 is extracted which is as under: "4. We have heard the rival submissions and perused the material placed before us in the case under consideration. AO has admitted that from the agreement entered into between the assessee-company and the Master/VISA Card agencies, the assessee- company had to bear the tax liability. Payment of TDS was ma....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... year under consideration assessee has made payments to Visa/Master Card International on account of their charges for the services provided by them to the assessee. The TDS was deducted by the assessee on such payments was to the tune of Rs. 36,37,533/- which was claimed by the assessee as deduction in the Profit & Loss Account .The AO sought explanation from the assessee and pointed out why this....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Revenue is in appeal before us. 17.Before us, the Ld. Departmental Representative reiterated the submissions made by AO. The Ld. Counsel for the assessee relied upon the decision of CIT Vs Standard Polygraph Machines Pvt. Ltd (supra) and the of S. Takenaka Vs CIT 237 1TR 212 (Karnataka). 18.We have heard the rival submissions and perused the orders of lower and also the orders relied upon b....