Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
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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