Charity-run tree plantation and maintenance for environmental preservation qualifies as "charitable activity", making supplies GST-exempt under Notifi...
Drawings/designs supply and erection supervision fees from German contractor: designs non-taxable; supervision taxed as FTS/PE depending on six-month ...
Imported analyser diagnostic cartridges treated as accessories with analyser system, not standalone diagnostic reagents; extended limitation and penal...
For payments of capital gains to non-resident shareholders on transfer of shares of an Indian unlisted company, the dominant issue was whether TDS at 11.54% was correctly applied by adopting the concessional rate under s.112(1)(c)(iii) rather than applying indexation/other adjustments under the provisos to s.48 to deny such rate. The Tribunal held that the s.48 provisos govern the mode of computation (including foreign currency conversion) and do not displace the concessional rate prescribed under s.112(1)(c)(iii) for the relevant period; the AO had ignored the statutory conditions. The direction to verify remittances and apply 11.54% TDS was upheld, and the Revenue's appeal was dismissed. - ITAT
For payments of capital gains to non-resident shareholders on transfer of shares of an Indian unlisted company, the dominant issue was whether TDS at 11.54% was correctly applied by adopting the concessional rate under s.112(1)(c)(iii) rather than applying indexation/other adjustments under the provisos to s.48 to deny such rate. The Tribunal held that the s.48 provisos govern the mode of computation (including foreign currency conversion) and do not displace the concessional rate prescribed under s.112(1)(c)(iii) for the relevant period; the AO had ignored the statutory conditions. The direction to verify remittances and apply 11.54% TDS was upheld, and the Revenue's appeal was dismissed. - ITAT
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