https://www.taxtmi.com/caselaws?id=325096 Functional comparability under TNMM requires real similarity in service profile and business model, so high-end KPO comparables were excluded for an ITES provider. Corporate club entrance fee was treated as revenue expenditure because it facilitated business operations without creating an enduring capital asset. Branch profit tax paid in the USA was treated as eligible for treaty credit because it was not specifically excluded from the treaty's tax coverage. Payment for off-the-shelf software was held not to be royalty, as the payer acquired a copyrighted article rather than copyright rights, and no tax deduction obligation arose on that basis. en-us Mon, 29 Feb 2016 00:00:00 +0530 Thu, 10 Mar 2016 08:18:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325096 Functional comparability under TNMM requires real similarity in service profile and business model, so high-end KPO comparables were excluded for an ITES provider. Corporate club entrance fee was treated as revenue expenditure because it facilitated business operations without creating an enduring capital asset. Branch profit tax paid in the USA was treated as eligible for treaty credit because it was not specifically excluded from the treaty's tax coverage. Payment for off-the-shelf software was held not to be royalty, as the payer acquired a copyrighted article rather than copyright rights, and no tax deduction obligation arose on that basis. Case-Laws Income Tax Mon, 29 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325096