Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Reinsurance premiums ceded to a non-resident reinsurer should...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciation block.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Reinsurance premiums ceded to a non-resident reinsurer should not be disallowed under the insurance-business computation regime merely on an Assessing Officer's inferred regulatory breach where the sectoral regulator has examined the arrangement and raised no objection. A tax disallowance requires an established regulatory violation with tax consequences, rather than an independent technical interpretation of regulatory correspondence. Independently acquired enterprise application software falls within the depreciation entry for computers including computer software. The entry does not distinguish operating from application software or software bought with hardware from separately licensed software; licensing does not convert it into an intangible commercial or intellectual property right. The applicable computer-software depreciation rate remains subject to verification of first use.
Reinsurance premiums ceded to a non-resident reinsurer should not be disallowed under the insurance-business computation regime merely on an Assessing Officer's inferred regulatory breach where the sectoral regulator has examined the arrangement and raised no objection. A tax disallowance requires an established regulatory violation with tax consequences, rather than an independent technical interpretation of regulatory correspondence. Independently acquired enterprise application software falls within the depreciation entry for computers including computer software. The entry does not distinguish operating from application software or software bought with hardware from separately licensed software; licensing does not convert it into an intangible commercial or intellectual property right. The applicable computer-software depreciation rate remains subject to verification of first use.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
