S. 92C : Transfer pricing-Arm’s length price-Re sale without any further value addition-Resale Price Method (RPM) is most appropriate method for determining ALP of said international transactions.
S. 92C : Transfer pricing-Arm’s length price-Re sale without any further value addition-Resale Price Method (RPM) is most appropriate method for determining ALP of said international transactions.
S. 92C : Transfer pricing-Arm’s length price-Advance for allotment of shares-Notional interest-No addition could be made.
S. 92C : Transfer pricing-Arm’s length price-Comparable-Software development-Software education- Computer related activities like maintenance of website for its clients and creation of multimedia presentation-Product companies-Functionally not comparable-High turnover filter-Directed to be excluded.
S. 92C : Transfer pricing-Arm’s length price-AMP expenses-AE has not carried out any function in India-No international transaction in form of any agreement or arrangement on AMP expenditure incurred by assessee-Addition is held to be not justified. [S.92B]
S. 92C : Transfer pricing-Arm’s length price-Purchase product from AE and reseing to unrelated party-Resale price method (RPM) method was to be applied for benchmarking international transaction undertaken by assessee-Subvention payments by AE to reimburse part of operating expenses, said subvention amount received by assessee was operating in nature and was to be included as operating income-Promotion of Drug-Reimbursement of expenses-No transaction or international transaction could be said to be involved between assessee and its AE. [S.92B]
S. 92C : Transfer pricing-Arm’s length price-Notional interest-Interest on loan at LIBOR + 200 bps is held to be appropriate. [S. 92B]
S. 90 : Double taxation relief-Foreign tax credit-FTC paid subsequent to filing of return was to be allowed.-DTAA-India-USA. [S. 9(1)(i), ITR 128, Art. 25]
S. 80JJAA : Employment of new workmen-Persons working in software industry could be said to be workmen who render technical services and not services in the nature of supervisory or management character-Electronic design automation (FDA) software license First year of employment-Employees had worked for more than 300 days during relevant assessment years.
S. 80IB(10) : Housing projects-Building competition certificate-Mere delay in issuing competition certificate-Exemption cannot be denied-Inner measurements of a residential unit as well as projection or balcony would form part of built-up area-Within a composite housing project, where there are eligible and ineligible units, assessee can claim proportionate deduction in respect of eligible units-Higher GP rate cannot be a sole decisive factor for declining an assessee’s claim of deduction-Period during which lockdown was in force in view of COVID-19 pandemic, would stand excluded for purpose of working out time limit for pronouncement of orders, as envisaged in rule 34(5). [S. 255, ITAT R. 34(5)]
S. 80IA : Industrial undertakings-Infrastructure development-Initial assessment year-Not required to reduce losses arising from eligible business which was already set off against other business income. [S. 70, 71, 72, 80IA(5)]