Case Law Details
Case Name : Siemens Public Communication Network P. Ltd. vs. CIT (Supreme Court)
Appeal Number : Civil Appeal No. 11934/2016, 11936/2016, 11937/2016
Date of Judgement/Order : 07.12.2016
Related Assessment Year :
Courts :
Supreme Court of India
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CA Saurabh Chokhra
Brief of the case:
- The Hon’ble Supreme Court in the above cited case held that amount received as subvention/grant from parent company by a loss making subsidiary cannot be considered as revenue receipt in the hands of subsidiary company as grant was made by parent company to protect its investment made in subsidiary.
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Facts of the case:
In the second paragraph of Facts of the case –
“CIT (A) and ITAT reversed the finding of tribunal”
in the above part of the sentence the word “tribunal” is to be replaced with the word “Assessing Officer”