A representative appearing before ITAT had no right to claim mandamus for restraining an authority constituted under Act (i.e., Members of ITAT) from discharging functions entrusted to them by statute Continue reading →
As the installation/commissioning and maintenance agreements undertaken by assessee on the products supplied by its AE were independent agreements unconnected with the international transactions of warranty support services and the transaction which generated the commission income, the transactions pertaining to the installation/commissioning and maintenance services were not international transactions as contemplated under section 92B(1). Continue reading →
Section 40(a) (ia) would cover not only to the amounts which are payable as on 31st March of a particular year but also which are payable at any time during the year. The term used is interest, commission, brokerage etc. is payable to a resident or amounts payable to a contractor or sub-contractor for carrying out any work. The language used is not that such amount must continue to remain payable till the end of the accounting year. Any such interpretation would require reading words which the legislature has not used and is not acceptable Continue reading →
The observations of the Supreme Court in the case of Suraj Lamp are not intended to be applied to the cases of genuine transactions of transfer of immovable property through GPA. As long as the transactions are genuine, the sub-registrar cannot deny to register the GPA and Will Continue reading →
As assessee was being compensated by AE by way of a fee or commission which had no connection with the costs incurred, the payment of compensation made to the Indian units on their closure would represent abnormal costs which had to be excluded in the determination of the ALP of international transaction Continue reading →
Form 3CEB filed by assessee showing international transactions with AEs is no reason at all for reopening the assessment when there is no allegation that the Arm’s Length Price determined by the assessee is not correct Continue reading →
Assessing Officer or Tribunal, in appeal, cannot summon and examine warrant of authorization for purpose of examining whether there existed reasons to believe on materials before competent authority to order search under section 132(1) Continue reading →
Disallowance under section 40(a)(ia) would apply even to payments made during the previous year without deducting TDS. Applicability of section 40(a)(ia) not limited to amounts outstanding as of 31st March of the previous year on which TDS was not deducted Continue reading →
Proviso to section 92C(2) requiring calculation of arithmetical mean of multiple ALPs (more than 1 ALP) determined as per Most Appropriate Method doesn’t become inapplicable where one of the ALPs determined as per Most Appropriate Method is less than the price indicated by assessee Continue reading →
