Case Law Details
Court: Delhi Income-tax Appellate Tribunal
Citation: McDonald’s (India) Pvt Ltd. Vs. ACIT [ITA No. 3890 (Del) of 2004]
Brief: Advertisement expenditure incurred by a resident entity on behalf of another resident entity does not invoke the provisions of section 92 of the Income-tax Act, 1961
Background
In a recent ruling’ , the Delhi Income-tax Appellate Tribunal (“the Tribunal”) in the case of McDonald’s (India) Pvt Ltd v. ACIT [ITA No. 3890 (Del) of 2004], has held, on evaluation of available facts, that the old provision of section 92 of the Income Tax Act, 1961 (“the Act”) does not apply in case of advertisement expenditure incurred by the resident assessee on behalf of other resident entity.
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Dear sir td 5 year ka interest tax free hai kya ?