Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
For Article 5(2)(l) of the India-US DTAA, the service PE threshold is measured by the period of service activity in India, not by repeatedly counting overlapping employee presence as cumulative man-days. On the facts relied on by the CIT(A), the employees were present in India for only 72 solar days, so the 90-day threshold was not met and no service PE arose. In the absence of any other PE and with no contrary precedent or distinguishing facts shown, the treaty prevails and the receipts could not be taxed as business income under section 44BB. The deletion of the addition was therefore upheld.
For Article 5(2)(l) of the India-US DTAA, the service PE threshold is measured by the period of service activity in India, not by repeatedly counting overlapping employee presence as cumulative man-days. On the facts relied on by the CIT(A), the employees were present in India for only 72 solar days, so the 90-day threshold was not met and no service PE arose. In the absence of any other PE and with no contrary precedent or distinguishing facts shown, the treaty prevails and the receipts could not be taxed as business income under section 44BB. The deletion of the addition was therefore upheld.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4921 
