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Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
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Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
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The ITAT considered the taxability of salary earned in China by an individual residing in China. The AO argued that the salary was taxable in India due to an existing employer-employee relationship. However, the ITAT agreed with the argument that as the individual was a tax resident of China, the salary income was taxable in China only. The ITAT held that the salary for services in China was exempt u/s Article 15(1) of the India-China DTAA. The ITAT directed the AO to allow the exemption, noting that the proportionate salary for services in India had already been taxed in India and the remaining salary in China. The individual had not claimed foreign tax credit. Decision favored the assessee.
The ITAT considered the taxability of salary earned in China by an individual residing in China. The AO argued that the salary was taxable in India due to an existing employer-employee relationship. However, the ITAT agreed with the argument that as the individual was a tax resident of China, the salary income was taxable in China only. The ITAT held that the salary for services in China was exempt u/s Article 15(1) of the India-China DTAA. The ITAT directed the AO to allow the exemption, noting that the proportionate salary for services in India had already been taxed in India and the remaining salary in China. The individual had not claimed foreign tax credit. Decision favored the assessee.
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