Editor's Pick

ITAT: Taxability of non-resident’s income not relevant for Sec 163 proceedings 

Assessee held to be agent of non-resident u/s 163(1)(b); Taxability of receipts in the hands of non-resident not relevant to

Mar 06,2012

HC: Share brokers' bad debt claim allowed; ITAT SB ruling upheld

Share brokers eligible for bad debts claim on un-recovered balances of share transactions carried on behalf of clients; Brokerage as

Mar 05,2012

ITAT: Transfer Pricing relief to Mastek India; UK subsidiary a 'distributor', not 'marketing front office' 

Based on FAR, TPO wrongly characterized UK AE as captive marketing office instead of 'distributor', TPO's benchmarking using 'cost plus'

Mar 02,2012

ITAT: Compensation for waiver of right to acquire shares taxable as capital gains

Compensation received for waiver of right to acquire equity shares against capital advances taxable; 'Right to acquire shares' a property

Mar 01,2012

AAR: Consideration for software sold through independent Indian reseller, ‘royalty’ in hands of non-resident 

Payments received by non-resident for sale of software application to end users / customers, through an independent reseller in India,

Feb 29,2012

ITAT: Yearly profits of industrial park under 'percentage completion method’ eligible for Sec 80IA deduction  

Profits of notified industrial park offered to tax on year to year basis following ‘percentage completion method’ of accounting eligible for

Feb 27,2012

AAR: Export commission to non-resident agent taxable; TDS u/s 195 applicable

Export commission paid to non-resident agent taxable u/s Sec 5(2)(b) read with Sec 9(1)(i); Right to receive commission accrued in

Feb 24,2012

ITAT: Definition of technical service u/s 9(1)(vii) contemplates direct human involvement; Use of standard facility not FTS

International transportation fee earned by non-resident under 'Regional Transportation Services' agreement  not taxable as Fees for technical service u/s 9(1)(vii)

Feb 23,2012

HC: Set-off of Sec 10B unit's loss against profits from other units allowed

Loss sustained in eligible unit u/s 10B allowed to be set off against profits from non eligible unit; No specific

Feb 22,2012

ITAT: No Sec 40(a)(ia) disallowance on external lawyer fees reimbursed from clients

Reimbursement sought by the law firm from its clients through an itemised invoice (and not through a composite bill) for fees paid

Feb 20,2012