Deductibility for charitable donations affirmed where payments to approved relief funds, even if CSR-driven, qualify under the donation deduction sche...
Mis-declaration in import descriptions must be deliberate to justify confiscation; withheld contemporaneous import documents invalidate value redeterm...
Liability for EPCG export shortfall: duty and interest sustained, but confiscation and penalties quashed where no fraud and causes beyond importer con...
Transfer pricing: comparability analysis found M/s. Nihilent...
Transfer pricing adjustments for software services, corporate guarantees, expense characterisation and foreign tax credit affirmed under arm's length and DTAA
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Transfer pricing: comparability analysis found M/s. Nihilent functionally dissimilar to software development provider and thus excluded from comparable set, affecting arms length price determination. Corporate guarantee: corporate guarantee treated as a deemed international transaction after statutory amendment, and a guarantee fee of 0.5% was accepted as appropriate for ALP, rejecting reliance on bank guarantee benchmarks. Expense characterisation: hardware and software procured for supply under contracts were treated as revenue expenditure (not capital) as they formed part of supply to customers. Foreign tax credit: credit for taxes payable in the source state was to be granted under the DTAA even where tax was not paid due to a specific local exemption.
Transfer pricing: comparability analysis found M/s. Nihilent functionally dissimilar to software development provider and thus excluded from comparable set, affecting arms length price determination. Corporate guarantee: corporate guarantee treated as a deemed international transaction after statutory amendment, and a guarantee fee of 0.5% was accepted as appropriate for ALP, rejecting reliance on bank guarantee benchmarks. Expense characterisation: hardware and software procured for supply under contracts were treated as revenue expenditure (not capital) as they formed part of supply to customers. Foreign tax credit: credit for taxes payable in the source state was to be granted under the DTAA even where tax was not paid due to a specific local exemption.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
