Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Accrual of income India - Service PE/ virtual service PE in India - computation of threshold date for constitution of service PE - The tribunal concluded that for AY 2020-21, the appellant did not constitute a Service PE in India, as the presence of employees in India did not exceed the 90-day threshold required for constituting a Service PE under the India-Singapore DTAA. For AY 2021-22, since no employees visited India, the appellant could not have constituted a Service PE. Furthermore, the tribunal found no basis for the constitution of a Virtual Service PE as claimed by the AO, given the absence of relevant provisions in the India-Singapore DTAA or substantial evidence to support such a claim.
Accrual of income India - Service PE/ virtual service PE in India - computation of threshold date for constitution of service PE - The tribunal concluded that for AY 2020-21, the appellant did not constitute a Service PE in India, as the presence of employees in India did not exceed the 90-day threshold required for constituting a Service PE under the India-Singapore DTAA. For AY 2021-22, since no employees visited India, the appellant could not have constituted a Service PE. Furthermore, the tribunal found no basis for the constitution of a Virtual Service PE as claimed by the AO, given the absence of relevant provisions in the India-Singapore DTAA or substantial evidence to support such a claim.
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