ITAT allows tax relief of Rs. 5 crore to actor Shilpa Shetty

Shilpa Shetty Vs ACIT  (ITAT Mumbai) Conclusion: As the actor Shilpa Shetty was a brand ambassador for IPL team Rajasthan Royals, she was bound to render certain services without any charge to subsidiary company JIPL owned by holding company of her husband and assessee did not receive any consideration for the services rendered to JICPL, in the absence of any ‘price’, the provision of services could not be considered as an ‘international transaction under sec. 92(1). Held: Assessee-Shilpa Shetty being a film actress was acted as brand ambassador for Jaipur IPL Team. Jaipur I...