Income Declaration Scheme declarations can evidence share-capital sources, while round-tripped funds and cash-linked credits require further verificat...
Permanent establishment tests: independent subsidiary premises and principal-to-principal dealings did not create Indian taxability for offshore suppl...
Valuation Officer estimates govern property-value additions once statutory valuation is invoked, requiring fresh consideration of objections and compa...
Waiver of written show-cause notice may prevent a later procedural challenge after participation in customs adjudication, preserving statutory appella...
Retrospective invalidity of ocean-freight IGST supports refunds despite non-party status and prior credit utilisation, subject to authorised appeal gr...
TDS u/s 195 - payment for time charter higher charges are Royalty u/s 9(1)(vi) - The Tribunal held that the payments made by Jaisu Shipping Co. Pvt. Ltd. for hiring dredgers from a non-resident entity fall under the definition of "Royalty" as per Section 9(1)(vi) of the Income Tax Act. This classification is based on the provision that payments for the use or right to use any industrial, commercial, or scientific equipment are considered royalties. The decision emphasized that the control and physical possession of the equipment (dredgers) by the assessee, to the exclusion of others, and the obligation to maintain the equipment in good working condition, did not constitute a provision of services but were corollary to the hiring of equipment itself. - ITAT concluded that the assessee was under an obligation to deduct tax at source as royalty payments.
TDS u/s 195 - payment for time charter higher charges are Royalty u/s 9(1)(vi) - The Tribunal held that the payments made by Jaisu Shipping Co. Pvt. Ltd. for hiring dredgers from a non-resident entity fall under the definition of "Royalty" as per Section 9(1)(vi) of the Income Tax Act. This classification is based on the provision that payments for the use or right to use any industrial, commercial, or scientific equipment are considered royalties. The decision emphasized that the control and physical possession of the equipment (dredgers) by the assessee, to the exclusion of others, and the obligation to maintain the equipment in good working condition, did not constitute a provision of services but were corollary to the hiring of equipment itself. - ITAT concluded that the assessee was under an obligation to deduct tax at source as royalty payments.
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TaxTMI 
TaxTMI 
