Income Tax Appellate Tribunal - Kolkata
2 cases · page 1 of 1
Joint Commissioner Of Income Tax v.The Gramophone Co. Of India Ltd.
The Revenue appealed against the CIT(A)'s decision that deleted an addition of Rs. 4 crores made by the AO concerning the transfer of copyrights of 690 film songs to a subsidiary for Rs. 6 crores. The Tribunal upheld the CIT(A)'s view, stating that suspicion cannot be the sole basis for fixing tax liability and the AO cannot substitute his estimated price over the actual consideration received.
Assistant Commissioner Of Income-Tax v.Chittaranjan Datta
The dispute concerned whether payments received by Chittaranjan Datta for assigning his copyright and goodwill in a book were taxable as income. The assessee claimed they were non-taxable capital receipts, while the Income Tax Officer argued they were part of his professional income. The Tribunal confirmed the CIT (Appeals) order.
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