https://www.taxtmi.com/caselaws?id=289425 The High Court ruled that remittances for software products imported from foreign suppliers constituted royalty under the Income Tax Act, 1961, overturning the Tribunal's decision. Citing a previous case, the Court held in favor of the Revenue, applying Section 40(a)(i) of the Act. The Court emphasized the importance of the Double Taxation Avoidance Agreement (DTAA) and directed the assessing authority to consider its application. The Revenue's appeals were allowed, answering the substantial question of law in their favor. The outcome of a pending appeal before the Apex Court would impact the final decision. en-us Mon, 22 Jun 2015 00:00:00 +0530 Thu, 30 Jul 2020 09:56:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289425 The High Court ruled that remittances for software products imported from foreign suppliers constituted royalty under the Income Tax Act, 1961, overturning the Tribunal's decision. Citing a previous case, the Court held in favor of the Revenue, applying Section 40(a)(i) of the Act. The Court emphasized the importance of the Double Taxation Avoidance Agreement (DTAA) and directed the assessing authority to consider its application. The Revenue's appeals were allowed, answering the substantial question of law in their favor. The outcome of a pending appeal before the Apex Court would impact the final decision. Case-Laws Income Tax Mon, 22 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289425