Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
Indirect corporate control can create related-party status, excluding financial creditors from Committee of Creditors representation, participation an...
Scientific research association approval requires continuing SIRO status, annual donation reporting, and donor certificates for the approved foundatio...
Scientific research institution approval is conditional on SIRO recognition, annual donation reporting, donor certification, and prescribed compliance...
Income deemed to accrue or arise in India - payment made for providing interconnect services - The Tribunal found that the IUC charges do not fall under the definition of 'royalty' as per the DTAA between India and Sri Lanka. It noted that the services provided by the assessee do not permit use or right to use any intellectual property or process owned by the assessee. Moreover, the Tribunal observed that amendments to the Income Tax Act expanding the definition of 'royalty' cannot be read into the DTAA unless specifically amended. - The Tribunal allowed the appeal in favor of the assessee, ruling that the IUC charges received by the assessee are not taxable in India either under the Act or the DTAA provisions.
Income deemed to accrue or arise in India - payment made for providing interconnect services - The Tribunal found that the IUC charges do not fall under the definition of 'royalty' as per the DTAA between India and Sri Lanka. It noted that the services provided by the assessee do not permit use or right to use any intellectual property or process owned by the assessee. Moreover, the Tribunal observed that amendments to the Income Tax Act expanding the definition of 'royalty' cannot be read into the DTAA unless specifically amended. - The Tribunal allowed the appeal in favor of the assessee, ruling that the IUC charges received by the assessee are not taxable in India either under the Act or the DTAA provisions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4879 
