Reopening of assessment cannot rest solely on an audit party's opinion; reassessment under Section 147/148 is impermissible and power of revision shou...
Tested party selection: functional analysis identified the least complex unit as the appropriate tested party, altering the transfer pricing adjustmen...
Consideration received for granting non-exclusive broadcasting rights in feature films was examined to determine whether it constituted "royalty" under Explanation 2 to section 9(1)(vi) and Article 12(3) of the applicable treaty. The rights granted were limited to broadcast, with no transfer of copyright or ancillary rights such as editing, modification, deletion, addition, or sublicensing, and the licensor did not part with any copyright interest. On these terms, the payment was held not to be for the use of any copyright and therefore did not fall within the definition of "royalty", resulting in deletion of the addition and allowance of the appeal. - ITAT
Consideration received for granting non-exclusive broadcasting rights in feature films was examined to determine whether it constituted "royalty" under Explanation 2 to section 9(1)(vi) and Article 12(3) of the applicable treaty. The rights granted were limited to broadcast, with no transfer of copyright or ancillary rights such as editing, modification, deletion, addition, or sublicensing, and the licensor did not part with any copyright interest. On these terms, the payment was held not to be for the use of any copyright and therefore did not fall within the definition of "royalty", resulting in deletion of the addition and allowance of the appeal. - ITAT
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