Payments of transponder hire charges to foreign company by Indian Company is Royalty

CASE LAWS DETAILS DECIDED BY: ITAT, BENCH `A’ CHENNAI, IN THE CASE OF: Asia net Communications Ltd. Vs DCIT, APPEAL NO: ITA No. 1657/Mds./2002, DECIDED ON: December 11, 2009 ORDER These are cross appeals filed by the assessee and revenue respectively for Assessment Year 1995- 96. 2. Revenue’s appeal is taken up first. Grounds taken by revenue read as under: 1. The ld. CIT(A) has erred in deleting the addition made viz. Rs. 20,62,32,621/- u/s 40(a)(i) of the Income-tax Act, 1961 [for short, the Act]. 2. The ld. CIT(A) has erred in holding that the payment of trans...