Composite supply of drilling services and site specific chemicals characterised as composite supply; prior advance rulings set aside, tax rate left op...
Cross country pipeline classification and ITC entitlement: pipelines outside factory treated as immovable, ITC disallowed under Section 17 restriction...
Article 24(4) (non-discrimination) of the India-Denmark DTAA precludes a domestic thin-capitalisation measure that differentiates deductibility of interest based on creditor residence; applying treaty supremacy via section 90(2) the Tribunal concluded the section 94B disallowance could not be sustained where the debt and interest were accepted as arm's-length. The note further records computational principles: EBITDA must reflect gross (actual) depreciation, not netting by subvention; only interest actually deductible may be counted for the statutory limit; notional Ind AS accretion and interest already disallowed as capital must be excluded from the section 94B computation.
Article 24(4) (non-discrimination) of the India-Denmark DTAA precludes a domestic thin-capitalisation measure that differentiates deductibility of interest based on creditor residence; applying treaty supremacy via section 90(2) the Tribunal concluded the section 94B disallowance could not be sustained where the debt and interest were accepted as arm's-length. The note further records computational principles: EBITDA must reflect gross (actual) depreciation, not netting by subvention; only interest actually deductible may be counted for the statutory limit; notional Ind AS accretion and interest already disallowed as capital must be excluded from the section 94B computation.
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