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IT : Where assessee had a long-standing professional relationship with Star India and assessee entered into an arrangement with Star India on a mutually agreed basis whereby loss suffered by Star India was sought to be recouped with earnings from sponsorship of assessee's Cricket Team Kolkata Knight Riders and assessee incurred Rs. 10 crores on this behalf, since there is a nexus between impugned expenditure and purpose of business, same was to be allowed
IT : Where revenue's case was that brand equity of Knight Riders Sports and Star India was enhanced because of appearances by assessee, and in subsequent year, assessee had purchased shares of Knight Riders Sports, there is a certain amount of income within meaning of section 2(24)(iv) attributable to assessee's appearance, in view of fact that no such appearances and promotions had indeed been carried out and Assessing Officer had not able to establish as to what benefit had been obtained by assessee, no addition could be made
IT : Income from Dubai Villa was liable to be taxed in India inasmuch as same was includible in return of income and whatever taxes that might have been levied in other contracting State, credit thereof was required to be allowed