Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
Reverse charge and assignment of royalty collection: exemption for excess royalty collectors subject to reconciliation; leaseholders remain liable und...
The article analyses an appellate tribunal decision rejecting a unilateral loan write off to a wholly owned subsidiary as a deductible bad debt or business loss, applying transfer pricing principles and surrounding circumstance tests to sustain a transfer pricing adjustment and disallow the write off for lack of commercial substance. It finds weighted R&D deduction unavailable for want of mandatory administrative concurrence, but accepts the same expenditures as ordinary business expenditure. An ad hoc apportionment denying an industrial undertaking deduction was deleted under the consistency principle. Imputed interest on interest free advances was deleted on proof of interest free funds.
The article analyses an appellate tribunal decision rejecting a unilateral loan write off to a wholly owned subsidiary as a deductible bad debt or business loss, applying transfer pricing principles and surrounding circumstance tests to sustain a transfer pricing adjustment and disallow the write off for lack of commercial substance. It finds weighted R&D deduction unavailable for want of mandatory administrative concurrence, but accepts the same expenditures as ordinary business expenditure. An ad hoc apportionment denying an industrial undertaking deduction was deleted under the consistency principle. Imputed interest on interest free advances was deleted on proof of interest free funds.
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