Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
The assessee did not have a Permanent Establishment (PE) in India, and the royalty income received during the year was taxable at 10% plus applicable surcharge and cess on a gross basis u/s 9(1)(vi). The matter regarding the quantification of royalty was restored to the Assessing Officer with directions to adopt the royalty amount as per the Advance Pricing Agreement (APA) pending execution between GIA India Lab and the Central Board of Direct Taxes (CBDT). Regarding the levy of interest u/s 234A, the Assessing Officer was directed to verify the due date extension for filing the return and allow relief accordingly. The Appellate Tribunal's order in the immediately preceding year was followed for holding that the assessee did not have a PE in India.
The assessee did not have a Permanent Establishment (PE) in India, and the royalty income received during the year was taxable at 10% plus applicable surcharge and cess on a gross basis u/s 9(1)(vi). The matter regarding the quantification of royalty was restored to the Assessing Officer with directions to adopt the royalty amount as per the Advance Pricing Agreement (APA) pending execution between GIA India Lab and the Central Board of Direct Taxes (CBDT). Regarding the levy of interest u/s 234A, the Assessing Officer was directed to verify the due date extension for filing the return and allow relief accordingly. The Appellate Tribunal's order in the immediately preceding year was followed for holding that the assessee did not have a PE in India.
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TaxTMI 
TaxTMI 
