Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
The liability of income from non India point of sale transactions was left undecided pending appellate adjudication, and no finding on their tax exigibility is recorded. Revenue attributable to the India permanent establishment is affirmed at 15% of total commission based on FAR analysis, and that 15% is treated as revenue (not an expenditure cap); consequently the full distribution agent commission (68%) is deductible against that attributed revenue, producing negative taxable income in the present facts. The impugned certificate is set aside and the competent authority is directed to issue a fresh withholding certificate fixing tax deduction at 0.5%.
The liability of income from non India point of sale transactions was left undecided pending appellate adjudication, and no finding on their tax exigibility is recorded. Revenue attributable to the India permanent establishment is affirmed at 15% of total commission based on FAR analysis, and that 15% is treated as revenue (not an expenditure cap); consequently the full distribution agent commission (68%) is deductible against that attributed revenue, producing negative taxable income in the present facts. The impugned certificate is set aside and the competent authority is directed to issue a fresh withholding certificate fixing tax deduction at 0.5%.
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