Transfer pricing comparables and operating income principles applied to software development services, with exclusions, inclusions, and tax credit ver...
Transfer pricing on performance guarantees and overdue receivables deleted where warranty obligations were embedded and working capital adjustment alr...
The note addresses application of the anti-avoidance rule for dividend-stripping, holding that the statutory phrase "dividend or income received or receivable" covers the entire dividend and is not confined to exempt portions; this suffices to prevent tax arbitrage by permitting loss set-off against partly taxed dividends. It records that the onus to prove non-applicability of the provision rests on the taxpayer and that factual findings and tabulated verifications by the assessing officer regarding purchases, record dates, sales and holding periods were not rebutted. The addition under the provision was sustained and interest consequences follow as consequential determinations.
The note addresses application of the anti-avoidance rule for dividend-stripping, holding that the statutory phrase "dividend or income received or receivable" covers the entire dividend and is not confined to exempt portions; this suffices to prevent tax arbitrage by permitting loss set-off against partly taxed dividends. It records that the onus to prove non-applicability of the provision rests on the taxpayer and that factual findings and tabulated verifications by the assessing officer regarding purchases, record dates, sales and holding periods were not rebutted. The addition under the provision was sustained and interest consequences follow as consequential determinations.
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