Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Data transmission equipment classification under CTSH 8517 62 remains distinct from residual classification, with exemption evidence requiring scrutin...
The ITAT upheld deduction under section 10AA for three SEZ undertakings and for onsite software development profits, and rejected the section 14A disallowance because no exempt income was earned. It also sustained depreciation on goodwill and exclusion of Australian fringe benefit tax from book profit under section 115JB. Foreign tax credit for Japan taxes was allowed, while taxes not eligible for treaty credit were held deductible under section 37(1). The assessee's challenge to allocation of interest cost to section 10AA units failed. Exchange fluctuation was to be split between capital and revenue components, with only the revenue part taxed. Delisting expenses were restored for want of evidence, and prior period expense and foreign tax credit recomputation issues were remanded.
The ITAT upheld deduction under section 10AA for three SEZ undertakings and for onsite software development profits, and rejected the section 14A disallowance because no exempt income was earned. It also sustained depreciation on goodwill and exclusion of Australian fringe benefit tax from book profit under section 115JB. Foreign tax credit for Japan taxes was allowed, while taxes not eligible for treaty credit were held deductible under section 37(1). The assessee's challenge to allocation of interest cost to section 10AA units failed. Exchange fluctuation was to be split between capital and revenue components, with only the revenue part taxed. Delisting expenses were restored for want of evidence, and prior period expense and foreign tax credit recomputation issues were remanded.
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