Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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ITAT ruled against establishing a dependent agent Permanent Establishment (PE) of foreign entity (Japan) through its Indian subsidiary under India-Japan DTAA Article 5. Indian subsidiary functioned solely as a communication channel between Japanese parent and Indian customers, without authority to conclude contracts or maintain inventory. AO's application of Rule 10 with Section 44BB to estimate 10% deemed profits was rejected. ITAT found tax authorities' conclusions were based on assumptions without examining agency agreement or conducting independent inquiry. Despite trading business continuity, mere existence of business flow insufficient to establish principal-agent relationship. Clear factual evidence demonstrated absence of PE, negating need for further verification of contractual relationship between entities as directed in previous years.
ITAT ruled against establishing a dependent agent Permanent Establishment (PE) of foreign entity (Japan) through its Indian subsidiary under India-Japan DTAA Article 5. Indian subsidiary functioned solely as a communication channel between Japanese parent and Indian customers, without authority to conclude contracts or maintain inventory. AO's application of Rule 10 with Section 44BB to estimate 10% deemed profits was rejected. ITAT found tax authorities' conclusions were based on assumptions without examining agency agreement or conducting independent inquiry. Despite trading business continuity, mere existence of business flow insufficient to establish principal-agent relationship. Clear factual evidence demonstrated absence of PE, negating need for further verification of contractual relationship between entities as directed in previous years.
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