https://www.taxtmi.com/caselaws?id=180827 The Tribunal upheld the deletion of an addition made by the Assessing Officer, ruling that income from offshore supplies was not taxable in India under the regular provisions of the Income-tax Act, 1961. Additionally, it held that fees for technical services should be taxed only on a receipt basis, not on an accrual basis. The Tribunal also decided not to charge interest under sections 234B and 234C, following precedents and consistency in its approach. Lastly, the Tribunal upheld the Revenue Authorities' decision to tax royalty and fees for technical services on a receipt basis, dismissing the assessee's challenge to taxation on an accrual basis. en-us Mon, 07 Dec 2009 00:00:00 +0530 Fri, 22 Sep 2023 10:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180827 The Tribunal upheld the deletion of an addition made by the Assessing Officer, ruling that income from offshore supplies was not taxable in India under the regular provisions of the Income-tax Act, 1961. Additionally, it held that fees for technical services should be taxed only on a receipt basis, not on an accrual basis. The Tribunal also decided not to charge interest under sections 234B and 234C, following precedents and consistency in its approach. Lastly, the Tribunal upheld the Revenue Authorities' decision to tax royalty and fees for technical services on a receipt basis, dismissing the assessee's challenge to taxation on an accrual basis. Case-Laws Income Tax Mon, 07 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180827