Inventory write-off and fraudulent/wrongful trading allegations in corporate insolvency led to director liability principles applied and appeal dismis...
Condonation of delay in filing GSTR-3B returns and entitlement to Section 62 benefit results in withdrawal of assessments and revocation of attachment...
Royalty receipts from revenue transfers cannot be taxed as notional royalty absent a contractual right to receive royalties; where the subsidiary offered receipts to tax and intercompany agreements were amended to allocate a specified paid percentage, treating additional notional royalty would cause double taxation and was deleted. The subsidiary was not a Permanent Establishment of the non-resident under fixed-place, service, equipment or agency PE tests, so attribution of business profits to a PE did not arise and prior arbitrary apportionments were set aside. Interest for shortfall advance tax is to be recomputed by the assessing officer applying the Mitsubishi ratio. Royalties attract the DTAA 15% treaty rate without additional health/education cess.
Royalty receipts from revenue transfers cannot be taxed as notional royalty absent a contractual right to receive royalties; where the subsidiary offered receipts to tax and intercompany agreements were amended to allocate a specified paid percentage, treating additional notional royalty would cause double taxation and was deleted. The subsidiary was not a Permanent Establishment of the non-resident under fixed-place, service, equipment or agency PE tests, so attribution of business profits to a PE did not arise and prior arbitrary apportionments were set aside. Interest for shortfall advance tax is to be recomputed by the assessing officer applying the Mitsubishi ratio. Royalties attract the DTAA 15% treaty rate without additional health/education cess.
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