Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
Condonation of delay permits statutory appeal restoration where inadequate service explanation prevented consideration of reassessment and taxable-inc...
ITAT held that amounts received by a non-resident corporate assessee (Belgian tax resident) from two Indian group entities do not constitute fees for technical services (FTS) under Article 12(3)(b) of the India-Belgium DTAA or s.9(1)(vii) of the Act on the facts before it. The Tribunal found the services were not managerial, technical or consultancy in character; where some tasks might prima facie meet technical or consultancy tests, the Department failed to discharge the onus by adducing cogent evidence. The Functional Services Agreement and prior non-classification of receipts supported the assessee. The ITAT reversed the Departmental treatment of the receipts as FTS (and rejected inconsistent royalty/FTS characterisation).
ITAT held that amounts received by a non-resident corporate assessee (Belgian tax resident) from two Indian group entities do not constitute fees for technical services (FTS) under Article 12(3)(b) of the India-Belgium DTAA or s.9(1)(vii) of the Act on the facts before it. The Tribunal found the services were not managerial, technical or consultancy in character; where some tasks might prima facie meet technical or consultancy tests, the Department failed to discharge the onus by adducing cogent evidence. The Functional Services Agreement and prior non-classification of receipts supported the assessee. The ITAT reversed the Departmental treatment of the receipts as FTS (and rejected inconsistent royalty/FTS characterisation).
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
