Case Law Details
Case Name : ACIT Vs Emaar MGF Construction Pvt. Ltd (ITAT Delhi)
Related Assessment Year : 2012-13
Courts :
All ITAT ITAT Delhi
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ACIT Vs Emaar MGF Construction Pvt. Ltd (ITAT Delhi)
We find that the assessee is under the obligation to part away with the source of income to the holding company and it was not its volition alone, to give away the revenue that could have been otherwise accrued to them. An agreement entered into by the holding company with the assessee for providing financial security cover and to part away 25% sales proceeds was clearly a case of division of source of income between the holding company and the assessee. The flats to be constructed, by the assessee company were the source of income and the h...
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