Services rendered to Indian Insurance Company in the process of re-insurance of risk cannot be treated as ‘Fees for Technical Services’ under India-UK tax treaty

Services rendered to Indian Insurance Company in the process of re-insurance of risk cannot be treated as 'Fees for Technical Services' under India-UK tax treaty Posted: 18 Dec 2011 07:42 PM PST Guy Carpenter & Co. Ltd., Vs. ADIT (ITAT Delhi) - In the present case, the New India Insurance Co. or other Insurance Company in India, who avails the services of the assessee as a broker in the process of the re-insurance of the risk is left... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] No depreciation allowable on BSE membership card post corporatization of BSE Posted: 18 Dec 2011 07:19 PM PST ITO Vs Sino Securities Pvt. Ltd. (ITAT Mumbai) - After hearing both the parties, we find that the issue is covered against the Revenue and in favour of the assessee by the decision of Mumbai "C" Bench of the Tribunal in ITA no.5538/Mum./2009, for... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Payment to be made by Perfetti India for the cost to be allocated by the applicant is taxable under Article 12.5(a) and as also under Article 12.5(b) of the DTAC between India and The Netherlands – AAR Posted: 18 Dec 2011 08:05 AM PST Re- Perfetti Van Melle Holding B.V., Netherlands (AAR) - Applicant seeks advance ruling on the following questions:- 1. On the facts and circumstances of the case whether the payment to be made by Perfetti Van Melle India Private Limited... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Interest payable to Dassault is not taxable in India under Article 12.3(b) of the India-France Double Taxation Avoidance Convention – AAR Posted: 18 Dec 2011 07:43 AM PST Re Poonawalla Aviation Private Limited (AAR) - Clause 7 speaks of India limiting its taxation at source on interest dealt with in Article 12 of the Convention by providing a lower rate or by providing a scope more restricted than the rate or scope... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] CAG pulled up Income Tax Department for not recovering tax arrears worth over Rs 4,500 crore Posted: 18 Dec 2011 07:17 AM PST The CAG has pulled up the Income Tax Department for not recovering tax arrears worth over Rs 4,500 crore from various entities due to a lack of coordination between two of its wings. The government auditor, in its latest report tabled in... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Regarding Service Tax Refund to exporters through the Indian Customs EDI System (ICES) Posted: 17 Dec 2011 08:57 PM PST CIRCULAR NO 149/18/2011-ST So far Service Tax Refund (STR) was made available to exporters (other than SEZ Units/Developers) on specified services used for export of goods covered in Notification 17/2009-ST dated 07.07.2009 (as amended) subject to... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Procedure for Cancellation of TAN Posted: 17 Dec 2011 08:32 PM PST Cancellation/Surrendering of TAN can be done in two situations; CASE 1- Where duplicate TAN has been allotted; CASE 2 - Where TAN allotted, is not required anymore by the assessee/deductor. [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Guidelines For Preparation Of Outcome Budget 2012-13 Posted: 17 Dec 2011 08:23 PM PST The Outcome Budget documents will be prepared separately by each Ministry/Department in respect of all Demands/Appropriations controlled by them, except those exempted from this requirement and to the extent disclosures are not barred on... [[ This is a content summary only. Visit www.taxguru.in for full article. ]]