International Tax

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

Sep 12,2011

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

Sep 09,2011

HC: Rolls Royce PLC UK taxable on account of India PE

Rolls Royce PLC UK taxable on account of India PE

Sep 09,2011

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  

Sep 08,2011

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

Sep 06,2011

ITAT: Payment for Oracle database sub-licensing taxable as royalty

Payment for license to use ‘shrink wrap computer software’ constitutes 'royalty'

Sep 05,2011

ITAT: Section 51 applicable only in case of aborted transactions

Sec 51 providing for reduction of ‘advance/earnest money’ from 'cost of capital asset’, applicable only in case of forfeited advance for ‘aborted transactions’

Sep 02,2011

ITAT: Accounting losses pre-HC restructuring can be reduced for MAT

Debit balance of P&L adjusted against share premium & revaluation reserve as per High Court restructuring scheme, can be reduced for MAT purposes as brought forward book loss; AO to

Aug 31,2011

ITAT: No disallowance u/s 40A(9) if staff welfare trust contribution under Govt. directives

Contributions to staff welfare trust created under State Govt. directives covered under exceptions to Sec 40A(9); Claim for deduction during assessment allowed & SC decision in Goetz distinguished

Aug 31,2011

ITAT: Project Office executing EPC contract in India taxable as fixed place PE

‘Project office’ involved in co-ordination and execution of turnkey project constituted a fixed place PE in India; Revenue for offshore activities attributable to PE taxable in India

Aug 31,2011