Corporate guarantee invocation in insolvency petition: enforceability upheld, conditional sanction letter not a novation, limitation not barred after ...
NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Where commission paid to nonresident foreign agents arises from their business of selling Indian goods outside India, such commission is not chargeable to tax in India and therefore no withholding under the law on payments to nonresidents is required; consequence: no deduction obligation arises and a disallowance for failure to deduct cannot be sustained. The Revenue did not controvert non-chargeability and no finding of services rendered in India existed. Reliance on precedent confirming foreign agents' income accrues outside India led to decision for the taxpayer.
Where commission paid to nonresident foreign agents arises from their business of selling Indian goods outside India, such commission is not chargeable to tax in India and therefore no withholding under the law on payments to nonresidents is required; consequence: no deduction obligation arises and a disallowance for failure to deduct cannot be sustained. The Revenue did not controvert non-chargeability and no finding of services rendered in India existed. Reliance on precedent confirming foreign agents' income accrues outside India led to decision for the taxpayer.
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