Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Under the retrospective amendment to sections 144C, 153 and 153B, the limitation periods under sections 153 and 153B apply only until the draft assessment order is forwarded. Thereafter, the Dispute Resolution Panel process and the Assessing Officer's finalisation operate under separate timelines, so a limitation objection to the final assessment order does not succeed. Buying agency services involving vendor identification, order placement, quality checks, logistics coordination and related procurement support are characterised as commercial agency functions rather than managerial, technical or consultancy services under Article 12(4) of the India-Switzerland DTAA. The resulting receipts remain business income and, absent a permanent establishment in India, are not taxable in India; the fees-for-technical-services addition is deleted, with interest consequential.
Under the retrospective amendment to sections 144C, 153 and 153B, the limitation periods under sections 153 and 153B apply only until the draft assessment order is forwarded. Thereafter, the Dispute Resolution Panel process and the Assessing Officer's finalisation operate under separate timelines, so a limitation objection to the final assessment order does not succeed. Buying agency services involving vendor identification, order placement, quality checks, logistics coordination and related procurement support are characterised as commercial agency functions rather than managerial, technical or consultancy services under Article 12(4) of the India-Switzerland DTAA. The resulting receipts remain business income and, absent a permanent establishment in India, are not taxable in India; the fees-for-technical-services addition is deleted, with interest consequential.
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