By
Mariya Paliwala - On January 31, 2021 4:49 pm
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that the dependent agent permanent establishment (DAPE) is wholly tax-neutral if the Agent paid remuneration on Arm’s Length Price (ALP).
The assessee, Asia Today Limited is a foreign telecasting company incorporated in Mauritius and having a tax residency certificate of Mauritius. It sells advertising time and collects subscription revenues through its Indian affiliates Zee Telefilms Limited and El Zee, but its claim was that since it does not have any permanent establishment in India, no part of its income was taxable in India.
Supreme Court Modifies Its Direction On Constitution Of Search Cum Selection Committee For Appointment Of Tribunal Members livelaw.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livelaw.in Daily Mail and Mail on Sunday newspapers.
TDS Deducted | As per tax experts, employees can claim refund of the TDS deducted. However, due to lack of clarity in the income tax act, it may lead to litigations which can be a problem
Capital gains relief rule on flat sales given retro effect
Top Searches
Capital gains relief rule on flat sales given retro effect
Lubna Kably / TNN / Updated: Jan 17, 2021, 05:20 IST
FacebookTwitterLinkedinEMail
Representative image
MUMBAI: A recent ruling of the Income-Tax Appellate Tribunal (ITAT)’s Mumbai bench has come as a relief to taxpayers embroiled in litigation on capital gains arising out of sale of their flats due to the sale price being lower than the stamp duty valuation.
ITAT has held that the benefit of a higher tolerance band of 10% for the difference between the sale price of a flat and the stamp duty valuation will apply with retrospective effect.
In a recent order, the ITAT bench, comprising Pramod Kumar, vice-president, and Saktijit Dey, judicial member, rejected the contention of the HDFC Bank employee that the ESOPs related to employment in Dubai and the income (perquisite value) did not accrue or arise in India and hence was not taxable in India.