Tag: Taxation

Price paid for purchase of software from a non-resident entity is not “royalty” under Income Tax Act, 1961

DID YOU KNOW that the purchase price paid to any non-resident manufacturer or distributor (such as IBM, Microsoft etc.) by an Indian distributor or end-user does not constitute royalty, so as to give rise to any income taxable in India?.......
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Income Tax Department bound to provide detailed calculations of amount of refund, amount of interest, rate of interest and period of interest.

DID YOU KNOW that the Income Tax Department is bound to provide detailed calculations of tax refunds, amount of interest, rate of interest and the period for which interest is being calculated to an assessee?......
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Income Tax Department liable to pay Interest and penal interest on delayed income tax refund

DID YOU KNOW that the Income Tax Department is liable to pay penal interest of 3% per annum if there is a delay of more than one year in issuing refunds after refund is determined to be payable to the assessee?.......
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Deductee may not be required to deduct tax at source when no computation machinery or rate for deducting tax prescribed.

DID YOU KNOW that in the absence of machinery or a prescribed rate for deducting tax at source (“TDS”), the deductee may not be required to deduct tax?......
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Dispute decided by writ court on merits between the same parties cannot be reagitated in statutory appeal.

DID YOU KNOW that a dispute or issue decided on merits between the parties in writ jurisdiction cannot be reopened in a statutory appeal involving the same parties? DID YOU ALSO KNOW that we successfully represented a client before the Customs, Excise and Service Tax Appellate Tribunal, Principal Bench against the Customs Department’s attempt to […]

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Different numerical series for invoices cannot be the basis to doubt centralized registration under Service Tax

DID YOU KNOW that centralized registration of an assessee under the Service Tax Regime cannot be doubted merely on the existence of different numerical series of invoices issued by its different units?.......
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No prohibition on a non-SEZ unit utilizing CENVAT Credit to discharge service tax liability of an SEZ Unit under the same centralized registration

DID YOU KNOW that utilization of CENVAT Credit availed by a Non-SEZ unit in discharging the service tax liabilities of an SEZ unit under a centralized registration was permissible under the erstwhile Service Tax regime?......
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