International Tax
ITAT: Airport terminal building eligible for higher depreciation as 'plant'
Airport terminal building to be treated as ‘plant’; higher rate of depreciation @ 25% applicable
HC: RBI's approval under FEMA constitutes deemed approval for deduction u/s 10A(3)
RBI approval under FEMA for delayed exports realisation sufficient to claim Sec 10A deduction
ITAT: DDT liability not dependent on eventual taxability of dividend income
Liability for DDT arises on declaration of dividend, subsequent event of amalgamation leading to non-taxability of such dividend not a relevant consideration for levy of DDT –
ITAT: ITAT SB : Sec 40(a)(ia) amendment extending time limit for TDS prospective from AY 2010-11
Amendment to Sec 40(a)(ia) by Finance Act, 2010 extending time limit for deposit of TDS, to avoid disallowance, is ‘prospective’ from AY 2010-11 and not retrospective from AY 2005-06: Mumbai
ITAT: ITAT- Gross tax before STT rebate u/s 88E to be compared with MAT
Tax liability, before reducing STT credit available u/s 88E ,to be compared with MAT liability u/s 115JB
HC: Rolls Royce Singapore taxable as Indian agent's commission not at arm's length
Commission to Rolls Royce Singapore’s Indian agent not at arm’s length so as to extinguish further tax in India; Determination of DAPE of Rolls Royce Singapore referred back to AO
HC: Rolls Royce PLC UK taxable on account of India PE
Rolls Royce PLC UK taxable on account of India PE
HC: Earlier year's loss adjusted fully against reserve cannot be reduced under MAT
‘Book Profits’ under MAT cannot be reduced by depreciation & loss of earlier year fully adjusted against revenue reserves: Madras HC
ITAT: CA certificate not conclusive to determine non-resident taxability
A CA certificate for TDS on payment to non residents not conclusive to determine taxability
ITAT: Payment for Oracle database sub-licensing taxable as royalty
Payment for license to use ‘shrink wrap computer software’ constitutes 'royalty'