Market development fee paid to UK based company not taxable in India as fee for technical services

IN THE ITAT CHENNAI BENCH ‘B’ Gama Industries Coimbatore Ltd. versus Commissioner of Income-tax-III IT Appeal No. 755 (MdS.) of 2011 [Assessment year 2006-07] JULY 11, 2012 ORDER Abraham P. George, Accountant Member In this appeal filed by the assessee, it assails an order dated 23.3.2011 of Commissioner of Income Tax-III, Coimbatore, passed under Section 263 of Income-tax Act, 1961 (in short ‘the Act’). 2. Short facts apropos are that assessee, a company engaged in manufacture and export of cotton yarn fabrics and garments, had filed its return for imp...