{"id":8351,"date":"2019-11-24T15:07:55","date_gmt":"2019-11-24T15:07:55","guid":{"rendered":"http:\/\/itatonline.org\/digest\/acit-v-danda-brahmanandam-2019-179-itd-38-vishakha-trib\/"},"modified":"2021-06-12T09:57:08","modified_gmt":"2021-06-12T04:27:08","slug":"acit-v-danda-brahmanandam-2019-179-itd-38-vishakha-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/acit-v-danda-brahmanandam-2019-179-itd-38-vishakha-trib\/","title":{"rendered":"ACIT  v.  Danda Brahmanandam. (2019) 179 ITD 38\/(2020) 203 TTJ 485 \/187 DTR 340   (Vishakha)   (Trib.)\/ACIT v. Battini Naggrswara Rao   (2019) 179 ITD 38 \/ (2020) 203 TTJ 485\/ 187 DTR 340  (Vishakha)(Trib.)"},"content":{"rendered":"<p>Assessee, was holding 10.34 per cent of shares in company Tirumala Milk products Pvt Ltd . During year, assessee along with all other individual shareholders decided to sale his shares in Tirumala Milk products Pvt Ltd \u00a0BSA International . Tirumala Milk products Pvt Ltd \u00a0had appointed \u00a0\u00a0Barclays Bank as \u00a0a financial advisor for evaluating value of its shares, searching a potential buyer, etc. On finalization of sale transaction, Tirumala Milk products Pvt Ltd paid success fee to \u00a0Barclays Bank . The AO held that \u00a0the assessee being shareholder of 10.34 per cent had got indirect benefit from services of \u00a0Barclays Bank \u00a0which required to be taxed in hands of assessee under S. 2(24)(iv) of the Act .CIT ( A) held that provision is not applicable hence deleted the addition .On appeal by the revenue the Tribunal affirmed the order of the CIT (A). ( AY. 2014 -15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.2(24)(iv):Income- The value of benefit or perquisite- Success fee paid by company Tirumala Milk products Pvt Ltd to Barclays Bank could not be treated as perquisites .  [ S.48(1)  ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8351","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2aH","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=8351"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8351\/revisions"}],"predecessor-version":[{"id":19212,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8351\/revisions\/19212"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=8351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=8351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=8351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}