Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Section 10(4)(ii) exempts interest on NRE deposits where an individual is either a person resident outside India under FEMA or is permitted by the RBI to maintain the NRE account. A change in residential status is therefore not conclusive of exemption eligibility. Continued authority under the applicable RBI/FEMA framework to maintain NRE deposits requires factual verification. Eligibility must be examined on this limited basis, with an opportunity of hearing, without reopening unrelated issues.
Section 10(4)(ii) exempts interest on NRE deposits where an individual is either a person resident outside India under FEMA or is permitted by the RBI to maintain the NRE account. A change in residential status is therefore not conclusive of exemption eligibility. Continued authority under the applicable RBI/FEMA framework to maintain NRE deposits requires factual verification. Eligibility must be examined on this limited basis, with an opportunity of hearing, without reopening unrelated issues.
Note: It is a system-generated summary and is for quick reference only.
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