https://www.taxtmi.com/caselaws?id=122336 Subscription-based dissemination of financial, forex and commodity market information, together with access to devices such as V-SAT and printers, was treated as business income rather than fees for technical services or royalty under the applicable treaty, so the gross-basis restriction in section 44D did not apply. Once classified as business income, brought forward business losses were to be examined for set-off under the ordinary carry-forward rules, subject to verification of availability. Following binding precedent, interest under section 234B was not chargeable in the case of the non-resident taxpayer. The treaty-based characterization thus prevailed over domestic gross-taxation treatment. en-us Fri, 30 Apr 2010 00:00:00 +0530 Mon, 13 Aug 2012 10:16:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122336 Subscription-based dissemination of financial, forex and commodity market information, together with access to devices such as V-SAT and printers, was treated as business income rather than fees for technical services or royalty under the applicable treaty, so the gross-basis restriction in section 44D did not apply. Once classified as business income, brought forward business losses were to be examined for set-off under the ordinary carry-forward rules, subject to verification of availability. Following binding precedent, interest under section 234B was not chargeable in the case of the non-resident taxpayer. The treaty-based characterization thus prevailed over domestic gross-taxation treatment. Case-Laws Income Tax Fri, 30 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122336