Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
ITAT ruled in favor of the taxpayer regarding income from IT support services provided to associated enterprises. The Tribunal held that these services did not qualify as fees for technical services under Article 13 of the India-UK DTAA as they failed to satisfy the "make available" condition. The technology was not transferred in a manner enabling the recipients to apply it independently after contract conclusion. The ITAT noted that tax authorities erred by not recognizing that payments were mere cost-to-cost reimbursements without markup, thus not constituting taxable income. The Assessing Officer had not demonstrated that any training provided transferred technology to associated enterprises' employees for independent use. Appeal allowed.
ITAT ruled in favor of the taxpayer regarding income from IT support services provided to associated enterprises. The Tribunal held that these services did not qualify as fees for technical services under Article 13 of the India-UK DTAA as they failed to satisfy the "make available" condition. The technology was not transferred in a manner enabling the recipients to apply it independently after contract conclusion. The ITAT noted that tax authorities erred by not recognizing that payments were mere cost-to-cost reimbursements without markup, thus not constituting taxable income. The Assessing Officer had not demonstrated that any training provided transferred technology to associated enterprises' employees for independent use. Appeal allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
