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PCIT rightly invoked revision u/s. 263 as trade scheme payment not verified accurately
Case Law Details
- Case Name
- Permod Ricard India Pvt. Ltd Vs PCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Delhi
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Permod Ricard India Pvt. Ltd Vs PCIT (ITAT Delhi)
ITAT Delhi held that trade scheme payment to sales promoters whether pure reimbursement or not needs proper verification and since AO granted relief without proper verification and application of mind, PCIT rightly invoked revisionary proceedings u/s. 263.
Facts- Post original assessment, PCIT observed that treatment of service agreements with the sales promoters and passing of explicit trade scheme are reimbursement proceedings shows a principal and agent relationship rather than pure reimbursement. In the light of these find...
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