accept the aggregation of the transaction of `Payment of
consultancy fee' with the international transactions of the `Manufacturing
segment' and applying the TNMM ... assessee and the Assessing Officer has made a further capitalization of
consultancy fee amounting to Rs.4.96 crore by treating the remaining
amount
India. (xix) The Director shall be allowed to retain royalties and consultancy fee, sitting fee in other Boards etc., as per the regulations made
consultancy charges amounting to Rs.12,36,500/-.
17. The brief fact qua the issue are that the assessee has made payment of
consultancy fee ... nexus of the services rendered vis-a-vis payment of consultancy fee paid, could
8
I.T.A. No. 517/Kol/2017
Assessment Year
cheque in question was
issued by accused no.1 as consultation fees/commission under the agreement
dated 23.04.2012 which is project funding agreement between ... complainant in the sum of US dollar 5,75,000 as consultation fees.
b) That the cheque in question was issued by accused
allowing the payment made by
the assessee on account of technical consultancy fee. While the
Hon'ble ITAT has recorded a finding that mere ... competence or
qualification is not the criteria for allowing Technical Consultancy fee
as deduction, it has however upheld the decision
Income-tax Act, 1961 ('the Act').
2. Disallowance of Consultancy fees of Rs. 32,61,624
2.1. On the facts ... confirming disallowance of expenses of Rs. 32,61,624 being
consultancy fees paid by the Appellant to ICS Realty Private Ltd as unexplained
I bogus
Maitry Exports P Ltd. as marketing
consultant with effect from 01.04.2009 for the gross consultant fees of
Rs. 60,00,000/- per annum for which ... appointed as
marketing consultant, who would ensure turnover of
Rs. 5 Crores, through its efforts as consultants, for
which gross consultancy fees
received by the trust, consultation fees paid to the various
consultants/surgeons, consultation fees paid to the trustees,
investments made by the trust ... trust as per the agreement between consultant doctors
and the trust, wherein only consultancy fees was transferred to their
account and the balance charges received
assessee to the Lok Foundation, the assessee pleads
that this consultancy fee is a allowable deduction of the
assessee as it meets all test laid ... which the profits are being
siphoned off in the garb of consultancy fee to Lok
Foundation situated in Mauritius where ultimately no tax
or miniscule
consultancy expenses and
technical expenses.:-
'Sr. No. Name of party Nature of payment Amount on which TDS not
deducted
Consultancy Fees
1 Harper ... Talentos, S.C. Technical fees Rs.3,50,465/-
Professional Fees
1 Gaia Tech Inc. Consultancy/ Rs.2,02,726/-
Technical fees
2 KPMG Cardenas
