TaxTMI 
TaxTMI 
2021 (1) TMI 37
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....ed in all the appeals are identical, therefore, for the sake of convenience, these appeals are clubbed, heard and disposed of by this consolidated order. We are taking the Assessment Year 2007-08 as lead case to adjudicate 3. The brief facts of the case are, the assessee is engaged in the business of investment holdings and consultancy services. Assessee filed his return of income for A.Y.2007-08 on 31.10.2007 declaring total income of Rs. 55,20,600/- under normal provisions of the Act and Rs. 22,68,62,20,848/- u/s. 115JB of the Act. The AO completed the assessment uls.143(3) of the Act on 29.12.2009 determining total income at Rs. 26,40,32,12,860/- under normal provisions of the Act and Rs. 26158,28,74,409/- u/s. 115JB of the Act. 4.....
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.... Corporate Communications Pvt. Ltd. on ad hoc basis. 8. Aggrieved with the above order, revenue and assessee are in appeal before us on the solitary ground that Ld. CIT(A) erred in allowing 50% of payments made to M/s Vaishnavi Corporate Communications Pvt. Ltd. (VCCPL) as consultancy fees. 9. At the outset, Ld. AR appearing on behalf of the assessee submitted that this ground is squarely covered by the order of Coordinate Bench of Hon'ble ITAT in ITA 4630 & 4637/Mum/2016 for AY 2009-10 in assessee's own case, wherein the entire payment to VCCPL has been allowed as a deduction to the assessee. She further submitted that assessee is pressing ground no. 6 since the Hon'ble IT AT has given relief to assessee on merits. She wa....
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....anies that are part of this agreement; (b) Annexure-B defining various services to be rendered by the parties concerned; (c) Annexure-C defining the data code of conduct; (d) Annexure-D defining the data code of conduct for prevention of insider trading and code of corporate disclosure practices (enclosed in pages 20-63 of the paper book). 7.6. We have already gone through the agreement entered by the assessee company with VCCPL dated 21/11/2006 referred to supra wherein in Annexure-A, the following are the list of companies that are listed out as belonging to Tata Group of companies which are covered within the ambit of this agreement:- • Tata companies • The Tata companies are ....
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....as to the assessee company and other Tata companies since 01/11/2001. These facts are not disputed by the revenue before us. We find that primarily the assessee herein has made investments of Rs. 1700/- Crores in its subsidiary company Tata Realty Investment and Infrastructure Ltd. The said subsidiary company had utilised the said funds to buy lands from Unitech Group and it was Unitech group which had ultimately acquired 2G telephone spectrum licenses from Department of Telecommunications, Government of India which are governed by Telecom Regulatory Authority of India (TRAI) regulations. Hence, the primary transactions of amounts invested by the assessee in Tata Realty Investment and Infrastructure Ltd., and its consequential funding to Un....
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....that similar services were rendered by VCCPL to the assessee in earlier years as well as in subsequent years which were duly allowed as deduction by the Revenue as under:- Fees Paid (excluding service tax) Year Amount (Rs.) AY 2004-05 8.07 AY 2005-06 9.12 AY 2006-07 9.12 AY 2007-08 10.45 AY 2008-09 12.31 AY 2009-10 12.31 AY 2010-11 12.31 AY 2011-12 12.31 AY 2012-13 (upto 31st Oct. 2011) 7.18 7.8. Hence, in view of the aforesaid observations and applying the principle of consistency as has been held by the Hon'ble Supreme Court in the case of Radhasaomi Satsang reported in 193 ITR 321 (SC), in allowing such claim to the assessee in earlier as well as in subsequent ....