Transfer pricing method selection favours TNMM where medical-equipment distribution involves substantial post-import value addition and operational ri...
Post-export shipping bill conversion remains available where contemporaneous evidence supports EPCG benefits despite curable procedural omissions and ...
Taxability of income in India - Addition of receipt emanating from offshore supplies of escalators and elevators - The Appellate Tribunal observed that the consortium, comprising the appellant and another entity, had distinct and separate responsibilities delineated in the Memorandum of Understanding (MOU). The Tribunal emphasized that the income accrued to the appellant from offshore supplies, and as per relevant legal precedents, such income was not taxable in India. Therefore, the Tribunal directed the assessing officer to delete the addition made to the appellant's income.
Taxability of income in India - Addition of receipt emanating from offshore supplies of escalators and elevators - The Appellate Tribunal observed that the consortium, comprising the appellant and another entity, had distinct and separate responsibilities delineated in the Memorandum of Understanding (MOU). The Tribunal emphasized that the income accrued to the appellant from offshore supplies, and as per relevant legal precedents, such income was not taxable in India. Therefore, the Tribunal directed the assessing officer to delete the addition made to the appellant's income.
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