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Direct Tax Newsletter Jan-Apr 2015

Published on Wed, May 06,2015 | 17:01, Updated at Wed, May 06 at 17:01Source : 

In the field of direct and international taxation in India, please find attached an ERGO from Khaitan & Co. that examines important developments in the sector during the period of January 2015 to April 2015

The ERGO encapsulates the following key points:


  • Supreme Court

    o    An amendment can retrospectively change the law to render a judgment ineffective;

    o    Revenue expenditure has to be allowed in the year in which it is incurred; and

    o    Supreme Court explains ‘source rule’ vis-à-vis ‘residence rule’ in international taxation, elaborates on the definition of ‘fees for technical services’.


  • Tribunal

    o    Remittance received from normal banking channels cannot be taxed as unexplained income in the absence of any evidence otherwise;

    o    Lower rate of tax withholding applicable even in cases where the non-resident recipient fails to furnish PAN.
Attachments : ERGO Direct Tax Newsletter May2015.pdf

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