Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
The ITAT addressed TDS u/s 195 withholding tax demand by the AO on foreign remittances for clinical trials, consultancy, and market surveys. The "make available" clause in tax treaties was interpreted. The ITAT found in favor of the assessee for remittances to USA-Canada parties and payments for science data base access, as they did not constitute royalty. Payment to Cambridgesoft for software purchase was not considered royalty. For fees paid to Thailand companies, no specific provision existed in the India-Thailand tax treaty, and since the companies had no permanent establishments in India, the income was not taxable in India. Payment to a Sri Lanka-based party for market survey was not considered technical services under section 9(1)(vii) of the Act. The CIT(A)'s decision to delete the demand was upheld, and the revenue's appeal was dismissed.
The ITAT addressed TDS u/s 195 withholding tax demand by the AO on foreign remittances for clinical trials, consultancy, and market surveys. The "make available" clause in tax treaties was interpreted. The ITAT found in favor of the assessee for remittances to USA-Canada parties and payments for science data base access, as they did not constitute royalty. Payment to Cambridgesoft for software purchase was not considered royalty. For fees paid to Thailand companies, no specific provision existed in the India-Thailand tax treaty, and since the companies had no permanent establishments in India, the income was not taxable in India. Payment to a Sri Lanka-based party for market survey was not considered technical services under section 9(1)(vii) of the Act. The CIT(A)'s decision to delete the demand was upheld, and the revenue's appeal was dismissed.
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