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...
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Income taxable in India or not - Business of supplying reservoir simulation software and related services. - Receipts from Indian customers - Taxing the entire receipts of the assessee by applying the provisions of section 44BB - The Tribunal agreed with the assessee that the absence of a PE in India was critical and thus Section 44BB of the Act was not applicable. The tribunal found that the impugned receipts could not be taxed as either royalties or FTS under the India-Canada DTAA because they did not meet the necessary criteria. It upheld the beneficial provisions of the DTAA over domestic tax laws, stating that the assessee could choose the more favorable treaty benefits.
Income taxable in India or not - Business of supplying reservoir simulation software and related services. - Receipts from Indian customers - Taxing the entire receipts of the assessee by applying the provisions of section 44BB - The Tribunal agreed with the assessee that the absence of a PE in India was critical and thus Section 44BB of the Act was not applicable. The tribunal found that the impugned receipts could not be taxed as either royalties or FTS under the India-Canada DTAA because they did not meet the necessary criteria. It upheld the beneficial provisions of the DTAA over domestic tax laws, stating that the assessee could choose the more favorable treaty benefits.
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