Fake-invoice penalties remain available where taxpayer admissions and records establish unsupported input tax credit claims and false GST documentatio...
Works contract classification applies to permanently installed fire-protection systems, while earthwork and obsolete IGST concessions remain unavailab...
Professional fee recovery for GST refund representation succeeds where direct engagement, fee acknowledgement, and authority are established despite c...
Transfer pricing of intra-group support services requires prescribed benchmarking; unsupported nil valuation and alternate business-expense disallowan...
Lump-sum lease premium paid to acquire leasehold land is capital expenditure, not a deductible revenue expense. Leasehold rights in land do not qualify as intangible assets or similar business or commercial rights eligible for depreciation; consequently, neither amortisation of the premium nor depreciation on those rights is available. For a resident Indian enterprise, overseas branch profits remain includible in Indian taxable income where applicable DTAAs use the expression "may be taxed"; the relevant clarification is not restricted to non-business income. Worldwide income must be computed under the Income-tax Act, with credit available for taxes paid in the source jurisdiction under the applicable provisions.
Lump-sum lease premium paid to acquire leasehold land is capital expenditure, not a deductible revenue expense. Leasehold rights in land do not qualify as intangible assets or similar business or commercial rights eligible for depreciation; consequently, neither amortisation of the premium nor depreciation on those rights is available. For a resident Indian enterprise, overseas branch profits remain includible in Indian taxable income where applicable DTAAs use the expression "may be taxed"; the relevant clarification is not restricted to non-business income. Worldwide income must be computed under the Income-tax Act, with credit available for taxes paid in the source jurisdiction under the applicable provisions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
