Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
ITAT held that receipts characterised as fees for technical services could not be taxed in India under the residuary Article 22 of the India-Thailand DTAA merely because the treaty lacks a specific FTS article; such income was treated as business income, and in the absence of a permanent establishment in India, the related addition was deleted. It remitted the section 234A interest issue to the Assessing Officer for verification of the actual filing date and directed that no interest would arise if the return was filed within the prescribed or extended time, with section 234B interest consequential. The challenge to initiation of penalty under section 270A was dismissed as premature.
ITAT held that receipts characterised as fees for technical services could not be taxed in India under the residuary Article 22 of the India-Thailand DTAA merely because the treaty lacks a specific FTS article; such income was treated as business income, and in the absence of a permanent establishment in India, the related addition was deleted. It remitted the section 234A interest issue to the Assessing Officer for verification of the actual filing date and directed that no interest would arise if the return was filed within the prescribed or extended time, with section 234B interest consequential. The challenge to initiation of penalty under section 270A was dismissed as premature.
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