TaxTMI 
TaxTMI 
2015 (7) TMI 1374
X X X X Extracts X X X X
X X X X Extracts X X X X
....g Officer has challenged correctness of the order dated 19th April, 2012, passed by the learned CIT(A) in the matter of assessment under section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act'), for the assessment year 2009-10, on the following grounds: 1. a) The Ld. Commissioner of Income Tax (Appeals)-XIV, Ahmedabad has erred in law and on facts in deleting the disallo....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ses in nature. In coming to this conclusion, the Assessing Officer had noted that the payments were made under an agreement as a result of which assesse will have the right to use the tradename/brand "SAL HOSPITAL" and, therefore, the assesse has made these payments for purchase of "operation and management rights of SAL Hospital". As this was a capital asset, the Assessing Officer proceeded to ho....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nts. 3. We have heard the rival contentions, perused the material on record and duly considered facts of the case in the light of the applicable legal position. 4. As a look at the agreement between the assesse and the Adarsh Foundation Trust clearly reveals, the payment of 40% of profits or Rs. 1,00,00,000 each year- whichever is less, is paid by the assesse for grant of operation and managemen....
X X X X Extracts X X X X
X X X X Extracts X X X X
....n the case of Rajeev Kumar Agarwal Vs ACIT (149 ITD 363), copy of which is deemed to be attached to and forming part of this order as well, and as it is an undisputed position that the Adarsh Foundation has duly accounted for these payments in computation of its taxable income, section 40(a)(ia) does not come into play on the facts of this case. Copies of related documents have been placed before ....