Reassessment under s.148A held valid; s.69 additions totaling Rs.7,00,000 deleted after acceptable contemporaneous explanations for property investmen...
Adjudication set aside; Rule 9 valuation based on internet engineer report quashed for Rule 3(4) non-compliance; Section 138B cross-examination requir...
ITAT upheld that payments characterized as commission to a non-resident entity under an exclusive procurement and supply agreement do not constitute "fees for technical services" within the meaning of the Act or the India-UK DTAA, as no technical knowledge, skill or transfer was conferred to the taxpayer. Consequently, the Revenue's treatment of such commission as taxable under the fee-for-technical-services paradigm and resultant TDS liability under section 195 was found incorrect. The Tribunal set aside the impugned appellate authority's decision insofar as it upheld that characterization and quashed the corresponding TDS exigibility; the taxpayer's appeals were allowed.
ITAT upheld that payments characterized as commission to a non-resident entity under an exclusive procurement and supply agreement do not constitute "fees for technical services" within the meaning of the Act or the India-UK DTAA, as no technical knowledge, skill or transfer was conferred to the taxpayer. Consequently, the Revenue's treatment of such commission as taxable under the fee-for-technical-services paradigm and resultant TDS liability under section 195 was found incorrect. The Tribunal set aside the impugned appellate authority's decision insofar as it upheld that characterization and quashed the corresponding TDS exigibility; the taxpayer's appeals were allowed.
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