Transfer Pricing Maze: Decoding AMP Expenses and Legal Quandaries
In the realm of transfer pricing, the Income-tax Act, 1961 plays a crucial role in regulating international transactions. The Assessment Year 2006-07 witnessed a notable case where the Transfer Pricing Officer (TPO) scrutinized Advertisement, Marketing, and Promotion (AMP) expenses incurred by an assessee. The TPO contended that these expenses were aimed at creating marketing intangibles […]
Tax Dilemmas: French Firm, Mining, and Section 44BB Insights
Background and Contractual Dynamics Exploring the intricate tax landscape, this article delves into a case involving a French company incorporated in France, providing services in connection with mining activities under a contract with RIL (Reliance Industries Limited). The focal point is the tax treatment of payments received by the assessee under this contract. A. Contractual […]
Legal Labyrinth: Section 147 and Pending Appeals
I. Reassessment Challenges: Section 10A and Technical Service Dilemma The article delves into a case where the Commissioner directed a reassessment of the assessee’s claim under Section 10A, questioning the eligibility of deductions related to technical services outside India. Subsequent developments, including the Assessing Officer’s fresh assessment order and the pending appeal before the Tribunal, […]
Tax Challenges: Section 43B and Excise Duty Claims
Navigating the intricacies of tax law is no simple feat, especially when it comes to Section 43B of the Income-tax Act, 1961, and its implications on excise duty claims. In the assessment year 1986-1987, the appellant found themselves entangled in a dispute over the allowance of excise duty under this section. Let’s unravel the facts, […]
Interest Taxation: Deciphering India-France DTAA Precedent
Navigating the intricacies of tax treaties, this article delves into a crucial case concerning the tax treatment of interest on income tax refunds for a French entity operating in India. We break down the facts, legal arguments, and the final ruling to provide a comprehensive understanding. Background The case involves a French company engaged in […]
Transfer Pricing Tactics: Lessons from Almatis Alumina Case
Understanding the nuanced landscape of transfer pricing under Section 92C and Section 92E of the Income-Tax Act, 1961, this article delves into the intricacies of computing the arm’s length price (ALP). A crucial aspect explored here is the determination of comparables, specifically focusing on foreign comparables. The analysis is centered around a notable case – […]
What is a Form 19
Introduction The Employees’ Provident Funds and Miscellaneous Provisions Act of 1952 requires employees to contribute a portion of their salary to the provident fund, with an equal contribution from the employer. When withdrawing funds, employees need to fill out various forms, and one of them is PF Form 19. Let’s break down what is a […]
Mastering Trust Registration: Triumph over Name Mismatch
The article delves into the challenges faced by an assessee in obtaining registration under section 12A(1)(ac)(iii) of the Income-Tax Act, 1961. The primary issues revolve around a name mismatch and concerns related to the genuineness of the trust’s activities. Background A brief overview of the registration application process and the provisional registration granted to the […]
International Taxation: Helicopter Parts and Legal Complexities
In a complex tax scenario governed by Sections 9, 195, and 40(a)(i) of the Income-Tax Act, 1961, coupled with the provisions of Double Taxation Avoidance Agreements (DTAA) between India and various countries, a case unfolds regarding payments made by an assessee for the repair and maintenance of helicopter parts. This analysis spans assessment years 2011-12 […]
Legal Tangle: Unraveling Transfer Pricing Timeline Complexities
In the intricate landscape of transfer pricing regulations, the recent case of an Indian assessee company importing books and music CDs for resale from its associate enterprises (AEs) sheds light on the complexities surrounding the period of limitation. This article explores the critical nuances of Section 92CA, in conjunction with Sections 144C and 153, of […]
