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 allowed the assessee's appeal regarding data transmission service receipts classified as royalty under Section 9(1)(vi) and Article 12(4) of the India-Netherlands DTAA. The Tribunal followed consistent precedents from assessment years 2006-07 to 2021-22, including High Court decisions in the assessee's own case. The Tribunal held that Finance Act 2012 amendments do not affect existing DTAA Article 12 provisions, and the Asia Satellite precedent's interpretation of "royalty" remains applicable for pre-2012 assessment years and DTAA cases. The addition was deleted as data transmission service income does not constitute royalty unless DTAAs are bilaterally amended to specifically include such services within the royalty definition.
ITAT allowed the assessee's appeal regarding data transmission service receipts classified as royalty under Section 9(1)(vi) and Article 12(4) of the India-Netherlands DTAA. The Tribunal followed consistent precedents from assessment years 2006-07 to 2021-22, including High Court decisions in the assessee's own case. The Tribunal held that Finance Act 2012 amendments do not affect existing DTAA Article 12 provisions, and the Asia Satellite precedent's interpretation of "royalty" remains applicable for pre-2012 assessment years and DTAA cases. The addition was deleted as data transmission service income does not constitute royalty unless DTAAs are bilaterally amended to specifically include such services within the royalty definition.
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