Transfer pricing comparables and operating income principles applied to software development services, with exclusions, inclusions, and tax credit ver...
Transfer pricing on performance guarantees and overdue receivables deleted where warranty obligations were embedded and working capital adjustment alr...
The case involved a challenge to assessment orders regarding whether sponsorship receipts constitute "payment for admission to entertainment." The court examined if the pre-amended Section 2(m) of the Delhi Entertainment and Betting Tax Act covered sponsorship of fashion shows and sporting events for extending tax u/s 6. The court held that sponsorship receipts did not fall under the taxable event for entertainment tax as defined in Section 6. The retrospective introduction of Explanation 2 was deemed burdensome and onerous, not clarificatory. The court concluded that the Act lacked a specific charging provision for taxing sponsorships and did not provide a mechanism for assessing and collecting tax on sponsorships. Therefore, the petition was allowed by the High Court.
The case involved a challenge to assessment orders regarding whether sponsorship receipts constitute "payment for admission to entertainment." The court examined if the pre-amended Section 2(m) of the Delhi Entertainment and Betting Tax Act covered sponsorship of fashion shows and sporting events for extending tax u/s 6. The court held that sponsorship receipts did not fall under the taxable event for entertainment tax as defined in Section 6. The retrospective introduction of Explanation 2 was deemed burdensome and onerous, not clarificatory. The court concluded that the Act lacked a specific charging provision for taxing sponsorships and did not provide a mechanism for assessing and collecting tax on sponsorships. Therefore, the petition was allowed by the High Court.
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