International Tax

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

ITAT: Loss on unsettled interest rate swap contracts deductible

Anticipated loss on unsettled interest rate swap contracts deductible; Accounting principle of 'prudence' binding as per Sec 145(2)

Aug 29,2011

HC: Period of limitation not applicable for TDS order passed u/s 201

Period of limitation not applicable for TDS orders passed u/s 201 –

Aug 29,2011

ITAT: Software payment not taxable under treaty; Microsoft ruling not binding precedent

Payment of software not taxable as ‘royalty’ under India-Israel treaty; Motorola SB ruling followed; Delhi ITAT ruling in Microsoft case not binding precedent: Mumbai ITAT 

Aug 26,2011

HC: Reopening of assessment to deny concessional tax rate u/s 44BB invalid

Reopening of assessment to deny concessional tax rate u/s 44BB, to income from ‘oil exploration activity’, invalid; Re-opening on the basis of prospective amendment in Finance Act or subsequent judgement

Aug 25,2011

HC: Interest on 'self asst tax' refund available from date of tax payment

Interest on refund of excess self assessment tax available from 'date of payment of tax’ and not from 'date of assessment order' u/s 244A

Aug 23,2011

Pages

Top