https://www.taxtmi.com/caselaws?id=314556 The ITAT Chennai ruled on TDS obligations and transfer pricing adjustments. Regarding bareboat hire charges, the tribunal held that under the India-France tax treaty and subsequent protocol with Sweden, payments for equipment hiring are not taxable in India, exempting the assessee from TDS obligations under section 195. However, on transfer pricing, the tribunal upheld the DRP's downward adjustment of technical service fees paid to associated enterprises, finding the assessee had computed fees advantageously rather than per the agreement terms. The appeal was partly allowed. en-us Fri, 22 Jul 2016 00:00:00 +0530 Thu, 20 Jun 2024 06:55:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314556 The ITAT Chennai ruled on TDS obligations and transfer pricing adjustments. Regarding bareboat hire charges, the tribunal held that under the India-France tax treaty and subsequent protocol with Sweden, payments for equipment hiring are not taxable in India, exempting the assessee from TDS obligations under section 195. However, on transfer pricing, the tribunal upheld the DRP's downward adjustment of technical service fees paid to associated enterprises, finding the assessee had computed fees advantageously rather than per the agreement terms. The appeal was partly allowed. Case-Laws Income Tax Fri, 22 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314556