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...
Medical reimbursement up to Rs. 15,000 per employee per annum was held not liable to Fringe Benefit Tax in the employer's hands because a tax charge must rest on clear charging language and cannot be imposed by implication. The Court followed the Karnataka High Court's view that the amount exempt in the employee's hands under the relevant income-tax provision is not subject to FBT, while any reimbursement above that limit may attract tax. The assessment orders levying FBT on reimbursements up to the threshold were set aside.
Medical reimbursement up to Rs. 15,000 per employee per annum was held not liable to Fringe Benefit Tax in the employer's hands because a tax charge must rest on clear charging language and cannot be imposed by implication. The Court followed the Karnataka High Court's view that the amount exempt in the employee's hands under the relevant income-tax provision is not subject to FBT, while any reimbursement above that limit may attract tax. The assessment orders levying FBT on reimbursements up to the threshold were set aside.
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