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...
Treaty limitations on royalty taxation and the make-available condition restrict taxation of cross-border receipts despite transfer-pricing adjustments. Notional interest requires an invoice-wise factual basis and interest paid, credited, acknowledged as payable or made available; arm's-length recomputation cannot independently create interest taxable under the treaty. Standardised software supplied with restricted end-user rights, connectivity services without rights in equipment or processes, and lease rentals paid by a non-resident outside the treaty source rule do not constitute taxable royalty income. Testing, administrative reimbursements and non-technical managerial training are not fees for included services where they do not transmit independently usable technical capability. Non-residents are not liable for advance-tax interest for periods when deductible tax had to be excluded from advance-tax computation.
Treaty limitations on royalty taxation and the make-available condition restrict taxation of cross-border receipts despite transfer-pricing adjustments. Notional interest requires an invoice-wise factual basis and interest paid, credited, acknowledged as payable or made available; arm's-length recomputation cannot independently create interest taxable under the treaty. Standardised software supplied with restricted end-user rights, connectivity services without rights in equipment or processes, and lease rentals paid by a non-resident outside the treaty source rule do not constitute taxable royalty income. Testing, administrative reimbursements and non-technical managerial training are not fees for included services where they do not transmit independently usable technical capability. Non-residents are not liable for advance-tax interest for periods when deductible tax had to be excluded from advance-tax computation.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
