https://www.taxtmi.com/caselaws?id=251903 The court set aside the ruling of the Authority for Advance Rulings, directing a fresh examination to determine whether settlement funds transferred to the USA were taxable in India as revenue or capital receipts. The court emphasized a need for a correct interpretation of the Income-tax Act, specifically Section 195, to ascertain the taxability of the receipts. The matter was remitted back to the Authority for a thorough reconsideration, focusing on income arising, received, or deemed accrued in India. The court allowed the writ petitions without costs. en-us Thu, 18 Sep 2014 00:00:00 +0530 Sat, 04 Oct 2014 07:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251903 The court set aside the ruling of the Authority for Advance Rulings, directing a fresh examination to determine whether settlement funds transferred to the USA were taxable in India as revenue or capital receipts. The court emphasized a need for a correct interpretation of the Income-tax Act, specifically Section 195, to ascertain the taxability of the receipts. The matter was remitted back to the Authority for a thorough reconsideration, focusing on income arising, received, or deemed accrued in India. The court allowed the writ petitions without costs. Case-Laws Income Tax Thu, 18 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251903