Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
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The receipts towards repairs and maintenance services rendered by the assessee cannot be construed as "Fee for Technical Services" (FTS) u/s 9(1)(vii) of the Income Tax Act or the Double Taxation Avoidance Agreement (DTAA) between India and Singapore. The assessee provides repair and maintenance services for aircraft equipment to Indian customers, and the primary business involves charging repair and maintenance fees. The 'make available' clause is not satisfied as there is no transfer of technology, skills, knowledge, processes, experience, or benefits. The repairs and maintenance services are not 'made available' to clients for future self-repair and maintenance. The Dispute Resolution Panel's interpretation of 'enduring benefit' gained by clients through repairs and maintenance as akin to 'make available' cannot be accepted. Consequently, the services cannot be treated as FTS under the Act or the treaty. Regarding the chargeability of interest u/ss 234A and 234B, if the return of income is filed beyond the prescribed due date u/s 139(1), interest u/s 234A shall be leviable, and the Assessing Officer is directed to examine and decide accordingly. The chargeability of interest u/s 234B would be consequential.
The receipts towards repairs and maintenance services rendered by the assessee cannot be construed as "Fee for Technical Services" (FTS) u/s 9(1)(vii) of the Income Tax Act or the Double Taxation Avoidance Agreement (DTAA) between India and Singapore. The assessee provides repair and maintenance services for aircraft equipment to Indian customers, and the primary business involves charging repair and maintenance fees. The 'make available' clause is not satisfied as there is no transfer of technology, skills, knowledge, processes, experience, or benefits. The repairs and maintenance services are not 'made available' to clients for future self-repair and maintenance. The Dispute Resolution Panel's interpretation of 'enduring benefit' gained by clients through repairs and maintenance as akin to 'make available' cannot be accepted. Consequently, the services cannot be treated as FTS under the Act or the treaty. Regarding the chargeability of interest u/ss 234A and 234B, if the return of income is filed beyond the prescribed due date u/s 139(1), interest u/s 234A shall be leviable, and the Assessing Officer is directed to examine and decide accordingly. The chargeability of interest u/s 234B would be consequential.
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