Friday, April 1, 2011

ITR (TRIB)) Vol 8 Part 5 dated 04.04.2011

ITR'S TRIBUNAL TAX REPORTS (ITR (TRIB))
Volume 8 : Part 5 (Issue dated : 04-04-2011)
SUBJECT INDEX TO CASES REPORTED IN THIS PART
Appeal to Appellate Tribunal --Double Taxation Avoidance Agreement--Mutual assessment procedure--Does not preclude Tribunal entertaining appeal-- Gracemac Corporation v. Asst. Director of Income-tax (Delhi) . . . 522
Business expenditure --Disallowance--Payments in cash exceeding specified limit--Payment for labour and materials for construction in area where no banking facility available--Allowable--Income-tax Act, 1961, ss. 40A(3), 263--Income-tax Rules, 1962, r. 6DD(j)-- Ramakant Singh v. CIT (No. 2) (Patna) . . . 505
Deduction of tax at source --Credit for tax deducted--No requirement of confirmation by deductors--Income-tax Act, 1961, s. 199-- Ramakant Singh v. CIT (No. 2) (Patna) . . . 505
International transactions --Arm's length price--Transactional net margin method --Determination only at transaction level not at industry level--Income-tax Act, 1961, ss. 92B, 92C, 92CA(3), 92F(ii)--Income-tax Rules, 1962, r. 10B(1)(e)-- Deputy CIT v. Ankit Diamonds (Mumbai) . . . 487
Interpretation of taxing statutes --Royalty--Definition--Meaning of--To be interpreted in terms of Act and DTAA--U. S. regulations or OECD commentary not proper guides--Income-tax Act, 1961, s. 9(1)(vi)--Double Taxation Avoidance Agreement between India and the U. S. A., art. 12--Copyright Act, 1957, s. 14(a), (b), (d), (e)-- Gracemac Corporation v. Asst. Director of Income-tax (Delhi) . . . 522
----Words to be given plain meaning--Punctuation not to be treated as redundant-- Gracemac Corporation v. Asst. Director of Income-tax (Delhi) . . . 522
Non-resident --Tax residency certificates issued by competent authority of another State--Entities cannot be treated as fictitious-- Gracemac Corporation v. Asst. Director of Income-tax (Delhi) . . . 522
Revision --Commissioner--Erroneous and prejudicial to Revenue--Assessee Officer making enquiry and accepting assessee's case--Commissioner not entitled to revise on ground enquiry not adequate--Income-tax Act, 1961, s. 263-- Ramakant Singh v. CIT (No. 2) (Patna) . . . 505
Royalty --Non-resident--Sale of "off the shelf software product" by U. S. based non-resident companies to independent Indian distributors--Payments by Indian distributors--Are royalty taxable in hands of non-resident companies--Appointment of Indian distributors is business connection--Income-tax Act, 1961, ss. 9(1)(vi), 115A, 234A, 234B --Double Taxation Avoidance Agreement between India and the U. S. A., art. 12-- Gracemac Corporation v. Asst. Director of Income-tax (Delhi) . . . 522
Words and phrases --"Copyright"--"Copyrighted article"-- Gracemac Corporation v. Asst. Director of Income-tax (Delhi) . . . 522

SECTIONWISE INDEX TO CASES REPORTED IN THIS PART
Copyright Act, 1957 :
S. 14(a), (b), (d), (e) --Interpretation of taxing statutes--Royalty--Definition--Meaning of--To be interpreted in terms of Act and DTAA--U. S. regulations or OECD commentary not proper guides-- Gracemac Corporation v. Asst. Director of Income-tax (Delhi) . . . 522
Double Taxation Avoidance Agreement between India and the U. S. A. :
Art. 12 --Interpretation of taxing statutes--Royalty--Definition--Meaning of--To be interpreted in terms of Act and DTAA--U. S. regulations or OECD commentary not proper guides-- Gracemac Corporation v. Asst. Director of Income-tax (Delhi) . . . 522
----Royalty--Non-resident--Sale of "off the shelf software product" by U. S. based non-resident companies to independent Indian distributors--Payments by Indian distributors--Are royalty taxable in hands of non-resident companies--Appointment of Indian distributors is business connection-- Gracemac Corporation v. Asst. Director of Income-tax (Delhi) . . . 522
Income-tax Act, 1961 :
S. 9(1)(vi) --Interpretation of taxing statutes--Royalty--Definition--Meaning of--To be interpreted in terms of Act and DTAA--U. S. regulations or OECD commentary not proper guides-- Gracemac Corporation v. Asst. Director of Income-tax (Delhi) . . . 522
----Royalty--Non-resident--Sale of "off the shelf software product" by U. S. based non-resident companies to independent Indian distributors--Payments by Indian distributors--Are royalty taxable in hands of non-resident companies--Appointment of Indian distributors is business connection-- Gracemac Corporation v. Asst. Director of Income-tax (Delhi) . . . 522
S. 40A(3) --Business expenditure--Disallowance--Payments in cash exceeding specified limit--Payment for labour and materials for construction in area where no banking facility available--Allowable-- Ramakant Singh v. CIT (No. 2) (Patna) . . . 505
S. 92B --International transactions--Arm's length price--Transactional net margin method--Determination only at transaction level not at industry level-- Deputy CIT v. Ankit Diamonds (Mumbai) . . . 487
S. 92C --International transactions--Arm's length price--Transactional net margin method--Determination only at transaction level not at industry level-- Deputy CIT v. Ankit Diamonds (Mumbai) . . . 487
S. 92CA(3) --International transactions--Arm's length price--Transactional net margin method--Determination only at transaction level not at industry level-- Deputy CIT v. Ankit Diamonds (Mumbai) . . . 487
S. 92F(ii) --International transactions--Arm's length price--Transactional net margin method --Determination only at transaction level not at industry level-- Deputy CIT v. Ankit Diamonds (Mumbai) . . . 487
S. 115A --Royalty--Non-resident--Sale of "off the shelf software product" by U. S. based non-resident companies to independent Indian distributors--Payments by Indian distributors--Are royalty taxable in hands of non-resident companies--Appointment of Indian distributors is business connection-- Gracemac Corporation v. Asst. Director of Income-tax (Delhi) . . . 522
S. 199 --Deduction of tax at source--Credit for tax deducted--No requirement of confirmation by deductors-- Ramakant Singh v. CIT (No. 2) (Patna) . . . 505
S. 234A --Royalty--Non-resident--Sale of "off the shelf software product" by U. S. based non-resident companies to independent Indian distributors--Payments by Indian distributors--Are royalty taxable in hands of non-resident companies--Appointment of Indian distributors is business connection-- Gracemac Corporation v. Asst. Director of Income-tax (Delhi) . . . 522
S. 234B --Royalty--Non-resident--Sale of "off the shelf software product" by U. S. based non-resident companies to independent Indian distributors--Payments by Indian distributors--Are royalty taxable in hands of non-resident companies--Appointment of Indian distributors is business connection-- Gracemac Corporation v. Asst. Director of Income-tax (Delhi) . . . 522
S. 263 --Business expenditure--Disallowance--Payments in cash exceeding specified limit--Payment for labour and materials for construction in area where no banking facility available--Allowable-- Ramakant Singh v. CIT (No. 2) (Patna) . . . 505
----Revision--Commissioner--Erroneous and prejudicial to Revenue--Assessee Officer making enquiry and accepting assessee's case--Commissioner not entitled to revise on ground enquiry not adequate-- Ramakant Singh v. CIT (No. 2) (Patna) . . . 505
Income-tax Rules, 1962 :
R. 6DD(j) --Business expenditure--Disallowance--Payments in cash exceeding specified limit--Payment for labour and materials for construction in area where no banking facility available--Allowable-- Ramakant Singh v. CIT (No. 2) (Patna) . . . 505
R. 10B(1)(e)--International transactions--Arm's length price--Transactional net margin method --Determination only at transaction level not at industry level--Deputy CIT v. Ankit Diamonds (Mumbai) . . . 487

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