The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) has recently deleted the addition made by the assessing officer against ESPN star sports.
Assesee ESPN Star Sports a foreign company, After filing the return which was selected for scrutiny .The assessing officer proposed addition of royalty income amounting to Rs. 752,16,50,223/-.against this assesee filed objection before the Dispute Resolution Panel( DRP ). DRP upheld the decision of assessing officer. Thereafter the assessing officer made the assessing order. Against this order assesee filed an appeal before the ITAT.
Porus Kaka counsel for the assessee submits that authorities below were not justified to make the impugned addition and the issue is squarely covered in a catena of decisions in favour of the assessee”
Also the issue, has already been decided in favour of the assessee in the following cases of assesee Fox Network Group Singapore Pte Ltd. Vs. ACIT.
Gangadhar Panda counsel for the revenue supported the contentions of the lower authorities.
After considering the contentions of the both parties the division bench of the ITAT comprising Narendra Kumar Billaiya, Accountant Member and Kul Bharat Judicial Member allowed the appeal filed by the assessee and direct the Assessing Officer to delete the impugned addition.
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