TaxTMI 
TaxTMI 
2024 (7) TMI 1550
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.... are involved in the above captioned appeals of the assessee, we proceed to dispose of the same by this common order. For the sake of convenience and clarity, the facts relevant to the appeal of the assessee in ITA No. 1455/PUN/2023 ITA No. 1455/PUN/2023 - A.Y. 2015-16 : 3. Briefly, the facts of the case are that the appellant is a domestic company inter alia engaged in the business of shipping agents. The Return of Income for the A.Y. 2015-16 was filed on 28.11.2015 declaring total income of Rs. 13,32,30,200/-. Subsequently, the same was revised on 16.02.2016 declaring total income of Rs. 13,46,03,250/-. Thereafter, the case was selected for scrutiny. The Assessing Officer during the course of assessment proceedin....
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....gment of Hon'ble Apex court read as under : "5. The relevant provisions of the Act which have a material bearing to the issues arising for determination in the present appeals may now be noticed. Section 194J; Section 40(a)(ia) of the Act introduced by Finance (No.2) Act, 2004 with effect from 1st April, 2005; and Explanation 2 of Section 9(1)(vii) which are relevant for the purpose of the present case reads as under: "194J. Fees for professional or technical services. (1) Any person, not being an individual or a Hindu undivided family, who is responsible for paying to a resident any sum by way of- (a) fees for professional services, or (b) fees for technical services or (c) royalty, or ....
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....e subsequent year before the expiry of the time prescribed under sub-section (1) of section 200: Provided that where in respect of any such sum, tax has been deducted in any subsequent year, or has been deducted in the previous year but paid in any subsequent year after the expiry of the time prescribed under sub- section (1) of section 200 such sum shall be allowed as a deduction in computing the income of the previous year in which such tax has been paid. Explanation.-......... 9. Income deemed to accrue or arise in India (1) The following incomes shall be deemed to accrue or arise in India:- (i)..................... ......................... ......................... (vii) income by w....
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....istent view taken by the courts including this Court in Bharti Cellular Ltd. (supra). However, it cannot be lost sight of that modern day scientific and technological developments may tend to blur the specific human element in an otherwise fully automated process by which such services may be provided. The search for a more effective basis, therefore, must be made. 8. A reading of the very elaborate order of the Assessing Officer containing a lengthy discourse on the services made available by the Stock Exchange would go to show that apart from facilities of a faceless screen based transaction, a constant upgradation of the services made available and surveillance of the essential parameters connected with the trade including those....