https://www.taxtmi.com/caselaws?id=273406 The Income Tax Appellate Tribunal (ITAT) partly allowed the appeal challenging the correctness of the assessment under section 143(3) for Assessment Year 2008-09. Regarding the tax withholding obligations for payment to Triginta Travels and Tours, Sweden, the ITAT remitted the matter back to the Commissioner of Income Tax (Appeals) for fresh adjudication, emphasizing the need to consider the taxability under the India-Sweden Double Taxation Avoidance Agreement (DTAA). The ITAT also deleted the disallowance of the loss incurred on the Europe tour organized for Vasavdutta Cement Ltd, stating that associated entities can incur losses on transactions, and the escalation of costs leading to the loss was a normal business phenomenon. en-us Tue, 23 Oct 2012 00:00:00 +0530 Sat, 23 Jun 2018 11:48:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273406 The Income Tax Appellate Tribunal (ITAT) partly allowed the appeal challenging the correctness of the assessment under section 143(3) for Assessment Year 2008-09. Regarding the tax withholding obligations for payment to Triginta Travels and Tours, Sweden, the ITAT remitted the matter back to the Commissioner of Income Tax (Appeals) for fresh adjudication, emphasizing the need to consider the taxability under the India-Sweden Double Taxation Avoidance Agreement (DTAA). The ITAT also deleted the disallowance of the loss incurred on the Europe tour organized for Vasavdutta Cement Ltd, stating that associated entities can incur losses on transactions, and the escalation of costs leading to the loss was a normal business phenomenon. Case-Laws Income Tax Tue, 23 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273406