Majestic Auto Ltd. v. CIT
Payment for the mere supply of design is not considered as usage and is therefore not Royalty.
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Union of India vs. U.A.E. Exchange Centre
The term “preparatory and auxiliary” would have to be seen with respect to its contribution in total activity chain and not independently as a service.
Tiger Global International II, III and IV Holdings, Mauritius
Benefit of India-Mauritius treaty won’t be available as after the lifting corporate veil it was seen that POEM was in USA and not Mauritius.
Regen Powertech (P.) Ltd. v. DCIT, (International Taxation)-2(1)
Payment to Non-residents for Technical services provided outside India was liable to TDS in India.
Volkswagen Finance Pvt Ltd v. Income Tax Officer
Payment to Non-residents for events outside India to promote the business of the Company in India was liable to TDS in India.
31.12.2021 due date for return filing
Due date for filing Income tax return for any type of entity which is not otherwise required to get their books of accounts audited under Income tax act or any other act is 31.12.2021. This rule is not applicable for company. For all companies due date is 15.02.2021.
Slow non-moving stock
Hiii, meet Mr. Jugadu- Owns Manufacturing company.His company was making good profits, but still he felt that there was shortage of cash, that forced him to borrow money from outside.To resolve this issue he hired a consultant Mr. Chanakya.