argued that in respect of the
GDR issue, the expenses were incurred for the issue of GDR are covered ... vetting of the documents for public issue and professional charges for the issue of
GDR, BSE approval for investment for offer documents booked under expenses
assessee-company by the non-
resident managers to the GDR issue (Merrill Lynch and others)
within the meaning of article ... lead manager and other managers in
connection with the GDR issue shall be considered as
"managerial" or "consultancy" services. The circular
lead managers had rendered technical,
managerial or consultancy services in the GDR issue, which services
were not made available to the assessee inasmuch
crores in previous year. Assessee is also raised funds from
its GDR issue in the earlier years. One subsidiary also was merged with the company ... ITeS segment. The company has also made a GDR issue in earlier years
to finances operation. Out of the total issue of ₹ 220 crores
Merchant Bankers in India in respect
of number of Rights Issues handled continuously for past 5
financial years.
• KEYNOTE established itself ... aspirations.
• KEYNOTE was amongst the most active advisor on FCCBs and
GDR issues for Indian companies in the international markets. In
the Financial Year
service. In the case of
Raymond Limited, services of underwriter in issuing of GDR was
held taxable as consultancy services under section
Learned CIT(A) deleted the addition so made by the AO. The issue is
covered against the Revenue by the decision ... appellant to its
employees was in relation to the listing of GDR of the appellant at London
Stock Exchange notwithstanding the provisions of section
account of capitalization of the share listing fees. Assessee has
issued GDR. This was earlier listed on AIM London Stock
Exchange. For better market, capitalization ... company will have the enduring benefit. It was
further submitted that the issue is squarely covered against the
assessee by the decision of Hon Supreme
which relate to deletion of addition of
Rs.1,44,756/-. This issue has been discussed by the Assessing Officer in para ... circumstances, the said amount was disallowed. This issue has been discussed
by the CIT (A) in para 6 to 6.4.3. To contend that such amount
assessee is in
appeal before us now.
3.1. The only issue agitated by assessee, is in respect of
disallowance of Rs.3,39,772/- being ... Rules.
2
ITA 1501/Del/2015 A.Y:2011-12
Paliwal GDR Homestyles (P) Ltd., Delhi vs. DCIT
3.2. Ld.AR submitted that during
