Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Fees for Included Services under Article 12(4)(a)/(b) of the India-USA DTAA were examined: consultancy and support services receipts were held not to constitute FIS where the foreign supplier did not make available technical expertise or skills but transferred commercial information or provided non-manufacturing support; accordingly additions were deleted. Subscription fees were held not to be 'royalty' as they provide use of a copyrighted article rather than a right to exploit copyright. TDS credit is allowable to the taxpayer provided the corresponding income is offered to tax and the AO considers available TDS proof when determining liability.
Fees for Included Services under Article 12(4)(a)/(b) of the India-USA DTAA were examined: consultancy and support services receipts were held not to constitute FIS where the foreign supplier did not make available technical expertise or skills but transferred commercial information or provided non-manufacturing support; accordingly additions were deleted. Subscription fees were held not to be 'royalty' as they provide use of a copyrighted article rather than a right to exploit copyright. TDS credit is allowable to the taxpayer provided the corresponding income is offered to tax and the AO considers available TDS proof when determining liability.
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