Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
The Income Tax Appellate Tribunal held that the receipt from supply planning services was not taxable as fees for technical services or royalty under the India-United Kingdom tax treaty. The coordinate bench had previously decided the identical issue, ruling that such receipts were not chargeable to tax. The Tribunal, following the coordinate bench's decision in the assessee's own case for the last 5 years, upheld the order of the Commissioner of Income Tax (Appeals) and dismissed the grounds of appeal raised by the Assessing Officer. The decision was rendered in favor of the assessee.
The Income Tax Appellate Tribunal held that the receipt from supply planning services was not taxable as fees for technical services or royalty under the India-United Kingdom tax treaty. The coordinate bench had previously decided the identical issue, ruling that such receipts were not chargeable to tax. The Tribunal, following the coordinate bench's decision in the assessee's own case for the last 5 years, upheld the order of the Commissioner of Income Tax (Appeals) and dismissed the grounds of appeal raised by the Assessing Officer. The decision was rendered in favor of the assessee.
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TaxTMI 
TaxTMI 
of 4915 
