Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Copyright was expressly excluded from the scope of intellectual property right service, which covered only rights recognised under Indian law. Royalties for a non-exclusive licence to pre-install and sub-license Microsoft operating software therefore concerned copyright exploitation rather than taxable intellectual property rights. Commercial use of information technology software became separately taxable only from 16 May 2008. Extended limitation could not apply where departmental audit and correspondence established knowledge of the activity, and reverse-charge tax would have been available as CENVAT credit, supporting revenue neutrality and absence of intent to evade.
Copyright was expressly excluded from the scope of intellectual property right service, which covered only rights recognised under Indian law. Royalties for a non-exclusive licence to pre-install and sub-license Microsoft operating software therefore concerned copyright exploitation rather than taxable intellectual property rights. Commercial use of information technology software became separately taxable only from 16 May 2008. Extended limitation could not apply where departmental audit and correspondence established knowledge of the activity, and reverse-charge tax would have been available as CENVAT credit, supporting revenue neutrality and absence of intent to evade.
Note: It is a system-generated summary and is for quick reference only.
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