PILCOM Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) Both these appeals preferred by the aforesaid respective Appellants are directed against the judgment and order dt. 4th Jan., 2000 of the Income Tax Appellate Tribunal, Kolkata (hereinafter referred to as learned Tribunal') [reported as PILCOM v. ITO,2001 71 TTJ 729-- Ed.]. The PILCOM's appeal was admitted on the following substantial questions of law:

(2.) Whether, on the facts and in the circumstances of the case, the Tribunal is correct in holding that the provisions of Sections 194E and 115BBA of the IT Act, 1961, were applicable in respect of guarantee money paid to only nine countries participating in the cricket matches hosted by PILCOM in the Wills World Cup, 1996 ?

(3.) Learned Tribunal after rehearing and considering the contention of both the parties came to conclusion that the payment made to ICC by PILCOM as per resolution dt. 2nd Feb., 1993 amounting to ? 3,75,000: