Month: December 2008

Transfer Pricing – A definitive guide Editorial Board Transfer Pricing refers to the statutory framework designed to lead to computation of reasonable, fair and equitable profit and tax in India so that the profits chargeable to tax in India do …

Transfer Pricing – A definitive guide Read More »

The word ‘Res Judicata’ is derived from the Latin language. It means a case or suit already decided. The principles of Res Judicata, in the eye of law, is that if on any facts and/or law, a particular decision is made than subsequently if any lis on similar facts and/or law is to be decided between the same parties, it should be same as made earlier.

As per The Law Lexicon “Res adjudicata” means “A matter adjudged; a thing judicially acted upon or decided; a thing or matter settled by judgment; a thing definitely settled by judicial decision, the thing adjudged”.

The tax authorities are interested in classifying as much incomes as possible as royalties, because a fixed tax is imposed on royalties and fees for technical services; and assessees are interested in avoiding such classification since that which is not classified as royalty or fees for technical services is business income, which is taxed at a very low or nil rate.

Now, how does one say that the Mumbai terror attack and 9/11 is a part of the sequence of the Third World War. This is because of a tell tale sign left by the terrorist in the Mumbai terror attacks. First of all , there is now enough evidence that Pakistan, more particularly the ISI was behind the attack. Do you think that ISI or the matter of fact, Pakistan has the guts to take on United States on its own ? Would they have United States citizens selectively killed in Mumbai terror attack? They have seen what the United States did in Iraq and Afghanistan. They would have surely not planned this adventure unless they are have comfort of support of a coalition of a sizable force to match the might of United States. Yes, they have the support of China, but that is the end of the story. The terrorist network of ISI, Taliban and Al Qaida has its presence in several other countries, whose support must have been counted before launching the Mumbai attack. The selective attack on the Israelites in Mumbai is an acknowledgement served by the ISI alliance that countries sharing anti-Israel sentiments would support them in case of war with United States.