https://www.taxtmi.com/caselaws?id=281419 The ITAT upheld the AO's application of a 27.5% net profit rate for supervisory services, determined that income from the sale of designs and drawings constituted business income, not royalty or FTS, and dismissed the Revenue's appeal on the sale of equipment, confirming that profits from such sales were not taxable in India. The issues concerning interest computation and penalty proceedings were considered consequential and did not require separate adjudication. en-us Fri, 08 Sep 2017 00:00:00 +0530 Tue, 18 Jun 2019 21:30:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281419 The ITAT upheld the AO's application of a 27.5% net profit rate for supervisory services, determined that income from the sale of designs and drawings constituted business income, not royalty or FTS, and dismissed the Revenue's appeal on the sale of equipment, confirming that profits from such sales were not taxable in India. The issues concerning interest computation and penalty proceedings were considered consequential and did not require separate adjudication. Case-Laws Income Tax Fri, 08 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281419