Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
Whether distribution receipts constituted fees for technical services: applying the test of rendition of technical/managerial services to the payer (requiring human intervention, bespoke support or consultancy), the tribunal found none-payments arose from sale of distribution rights and standardized software; outcome: receipts are business income, not FTS. Whether India-Switzerland DTAA could be invoked: treaty applicability is governed by the assessee's undisputed residency and Article 1; Revenue's attempt to apply the India-Switzerland DTAA (without alleging sham/conduit or fraud) was rejected-outcome: India-Singapore DTAA governs. Applicability of s.10(50): since receipts are not royalty/FTS, exclusion under s.10(50) applies subject to verification of equalization levy payment, which was demonstrated. TDS credit: directed to be verified and granted as per Form 26AS after opportunity of hearing. - ITAT
Whether distribution receipts constituted fees for technical services: applying the test of rendition of technical/managerial services to the payer (requiring human intervention, bespoke support or consultancy), the tribunal found none-payments arose from sale of distribution rights and standardized software; outcome: receipts are business income, not FTS. Whether India-Switzerland DTAA could be invoked: treaty applicability is governed by the assessee's undisputed residency and Article 1; Revenue's attempt to apply the India-Switzerland DTAA (without alleging sham/conduit or fraud) was rejected-outcome: India-Singapore DTAA governs. Applicability of s.10(50): since receipts are not royalty/FTS, exclusion under s.10(50) applies subject to verification of equalization levy payment, which was demonstrated. TDS credit: directed to be verified and granted as per Form 26AS after opportunity of hearing. - ITAT
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