Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Equalisation levy was held inapplicable to reimbursement paid by an Indian petitioner to its overseas subsidiary for online advertising services obtained from Google USA, because the charging provisions in Sections 164 and 165 of the Finance Act, 2016 apply only to consideration for a specified service received or receivable by a non-resident from a resident in India or from a non-resident with a permanent establishment in India. The Court declined to expand the levy by inference or substance-over-form reasoning, and held that reimbursement was not part of the statutory definition. It further held that the corporate veil could not be pierced absent evidence of impropriety or a sham structure, and that survey statements had no independent probative value to fasten liability.
Equalisation levy was held inapplicable to reimbursement paid by an Indian petitioner to its overseas subsidiary for online advertising services obtained from Google USA, because the charging provisions in Sections 164 and 165 of the Finance Act, 2016 apply only to consideration for a specified service received or receivable by a non-resident from a resident in India or from a non-resident with a permanent establishment in India. The Court declined to expand the levy by inference or substance-over-form reasoning, and held that reimbursement was not part of the statutory definition. It further held that the corporate veil could not be pierced absent evidence of impropriety or a sham structure, and that survey statements had no independent probative value to fasten liability.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
