Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
Internal TNMM supports deletion of freight-forwarding adjustments where comparable non-AE transactions are separately identifiable and materially simi...
Consideration for cloud application and IT support services did not constitute royalty under the India-Netherlands treaty because the services neither provided equipment nor conferred a right to use equipment. The receipts also failed to qualify as fees for technical services because they did not make available technical knowledge, experience, skill, know-how or processes enabling the Indian recipients to apply them independently. Interest on the income-tax refund required verification of the alleged double taxation and refund computation, so the tax liability or refund was remitted for fresh computation after a hearing. The challenge to penalty initiation was premature.
Consideration for cloud application and IT support services did not constitute royalty under the India-Netherlands treaty because the services neither provided equipment nor conferred a right to use equipment. The receipts also failed to qualify as fees for technical services because they did not make available technical knowledge, experience, skill, know-how or processes enabling the Indian recipients to apply them independently. Interest on the income-tax refund required verification of the alleged double taxation and refund computation, so the tax liability or refund was remitted for fresh computation after a hearing. The challenge to penalty initiation was premature.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
