Case Law Details
Case Name : MIRC Electronics Ltd. Vs DCIT (ITAT Mumbai)
Related Assessment Year :
Courts :
All ITAT ITAT Mumbai
RELEVANT PARAGRAPH
We have considered the submissions made both sides, material on record and orders of authorities below. It is noted that the assessee, during the year under consideration, has assigned Sales Tax liability worth Rs. 53.31 crores to the assignee along with receivables worth Rs. 33.52 crores. It is also noted that the assessee has also paid Rs. 17.64 crores to the assignee as part of consideration for taking over the said liability. All these facts emerge from the assignment agreement dated 29.01.04. Thereafter, the assignee has paid the said Sales Tax liability at net present ...
This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.
Can I have a copy of this judgment ?