Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
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 4792
Join Channel
TaxTMI 
