Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
The ITAT, an Appellate Tribunal, addressed the issue of whether income deemed to accrue or arise in India through royalty and fees for technical support services. The tribunal analyzed the "make available" clause in the India-USA DTAA and determined that the services provided were customized and differentiated, not constituting royalty. Referring to a Supreme Court decision, it was held that payments to non-resident vendors for technical support were not taxable as royalty under the DTAA. Consequently, revenue from cloud-based services subscriptions was deemed non-taxable under the India-US DTAA. The decision favored the assessee in this case.
The ITAT, an Appellate Tribunal, addressed the issue of whether income deemed to accrue or arise in India through royalty and fees for technical support services. The tribunal analyzed the "make available" clause in the India-USA DTAA and determined that the services provided were customized and differentiated, not constituting royalty. Referring to a Supreme Court decision, it was held that payments to non-resident vendors for technical support were not taxable as royalty under the DTAA. Consequently, revenue from cloud-based services subscriptions was deemed non-taxable under the India-US DTAA. The decision favored the assessee in this case.
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