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...
Challenge concerned issuance of a withholding tax certificate at 15% instead of a requested NIL certificate for a UK-incorporated company under Section 197; the text emphasises that orders under Section 197 operate as advance tax and are refundable if not exigible, but that accepting Revenue's position would defeat the provision's purpose. The account notes significant delay between application and order, during which tax was deducted. The operative outcome recorded is quashing of the impugned order and direction to issue a NIL-rate certificate for the relevant assessment year within fifteen days and to continue issuing annual NIL certificates within thirty days of future applications.
Challenge concerned issuance of a withholding tax certificate at 15% instead of a requested NIL certificate for a UK-incorporated company under Section 197; the text emphasises that orders under Section 197 operate as advance tax and are refundable if not exigible, but that accepting Revenue's position would defeat the provision's purpose. The account notes significant delay between application and order, during which tax was deducted. The operative outcome recorded is quashing of the impugned order and direction to issue a NIL-rate certificate for the relevant assessment year within fifteen days and to continue issuing annual NIL certificates within thirty days of future applications.
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