https://www.taxtmi.com/news?id=3119 The Government described proposed retrospective amendments as clarificatory, reaffirmed that reassessments cannot be opened beyond the statutory limitation under Section 149 and that cases finalized up to April 1, 2012 are not reopenable; it emphasised that companies deriving capital gains from assets located in India are taxable either in their country of origin or in India to ensure tax liability, and noted that prior discussions on whether software sales constitute royalties resulted in an agreed disagreement. en-us Fri, 20 Apr 2012 13:09:24 +0530 Fri, 20 Apr 2012 13:09:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=3119 The Government described proposed retrospective amendments as clarificatory, reaffirmed that reassessments cannot be opened beyond the statutory limitation under Section 149 and that cases finalized up to April 1, 2012 are not reopenable; it emphasised that companies deriving capital gains from assets located in India are taxable either in their country of origin or in India to ensure tax liability, and noted that prior discussions on whether software sales constitute royalties resulted in an agreed disagreement. News - Fri, 20 Apr 2012 13:09:24 +0530 https://www.taxtmi.com/news?id=3119