TaxTMI 
TaxTMI 
TaxTMI 
2015 (2) TMI 493
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....nvenience and brevity. ITA No. 5461/Mum/2004 - A.Y 2000-01 2. The first grievance of the assessee relates to the treatment of the payments during the year to the following institutions for technical services rendered by them as capital expenses in nature. 1) Indian Institute of Science - Rs. 45,37,678/- 2) Indian Institute of Technology - Rs. 22,65,805/- 3) All India Institute of Medical - Rs. 3,25,000/- 3. Briefly stated the facts of the case are that the assessee is engaged in the business of providing research related services. The return for the year was filed on 21.11.2000 declaring total income at Rs. 3,15,80,590/-. The return was selected for scrutiny assessment and statutory notices were issued and served upon the assessee. Du....
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....nted out that one of the objects of the assessee company is to undertake, establish, provide and conduct scientific technical and industrial research. In furtherance of its business, the assessee entered into an agreement with Unilever PLC and Unilever N.V. As per this agreement, it was agreed that the assessee shall provide such services as may be required by Unilever from time to time including but limited to research and development in the areas of fundamental research. Pursuant to this agreement with Unilever, the assessee proceeded by entering into agreement with the impugned parties. It is the say of the Ld. Counsel that payments made to these parties were very much in the ordinary course of its business and therefore allowable as rev....
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....ur considered opinion, the matter needs to be decided afresh in the light of this agreement dt. 16.11.2000. 8.1 In the interest of justice and fair play, we restore this issue to the file of the AO. The AO is directed to decide this issue afresh considering the agreement dt. 16.11.2000 vis-a-vis objects of the assessee as per Memorandum of Association , after giving reasonable and fair opportunity of being heard to the assessee. 8.2. While deciding this issue afresh, the AO is also directed to consider the additional plea of the assessee u/s. 35(1)(ii) and Sec. 35(1)(iv) of the Act as per provisions of law. Ground No. 1 alongwith additional grounds are allowed for statistical purpose. 9. The second ground relates to holding that the paym....
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....ongwith additional grounds are allowed for statistical purpose. 13.1. The appeal filed by the assessee is allowed for statistical purpose. ITA No. 996/M/2006 - A.Y. 2002-03 14. The following payments have been considered as capital in nature. "The Ld. CIT(A) failed to appreciate that the appellant during the normal course of business had made payments during the year to the following institutions for technical services rendered by them. Indian Institute of Technology Rs. 28,93,664/- Indian Institute of Science Rs. 29,31,802/- University of Mumbai Rs. 7,90,000/- All India Institute of Medical Science Rs. 1,42,200/- Madurai Kamaraj University Rs. 6,21,492/- NIMHANS Rs. 7,00,000/- Sofia University Rs. 10,02,917/- University ....