‘Royalty’ income taxable on receipt basis under India-USA treaty

ITAT MUMBAI BENCH ‘L’ Johnson & Johnson Versus Assistant Director of Income-tax (International Taxation -3) (1) IT Appeal No. 7865 (Mum.) of 2010 [ASSESSMENT YEAR 2004-05] FEBRUARY 1, 2013 ORDER B. Ramakotaiah, Accountant Member This is an assessee appeal against the order of the DDIT (IT)-3(1) Mumbai under section 143(3) r.w.s. 147 r.w.s. 144C(13) of the I.T. Act. Since the draft order was approved by the DRP-I, Mumbai, assessee preferred the present appeal before us. 2. The grounds raised by assessee are as under: “1. Based on the facts and circumstance...