Payment for supply of asset is FTS if developing technology is also made available to assessee

IN THE ITAT MUMBAI BENCH ‘L’ Bajaj Holdings & Investments Ltd. Versus Additional Director of Income-tax (International Taxation) IT Appeal NO. 7237 (MUM.) OF 2008 JANUARY 16, 2013 ORDER Rajendra, Accountant Member – The present appeal is filed against the Order dt. 08-08-2008 of CIT(A)-XXXIII, Mumbai. Following Grounds of Appeal have been raised by the Appellant: “On the facts and in the circumstances of the case and in law, the Commissioner of Income-tax (Appeals) erred in upholding that payment made by the assessee to Xennia Technology Ltd. amount...