2016-TII-INSTANT-ALL-304
22 March 2016   

The Week That Was - Episode 30 (March 18, 2016)

DTAAs

notification

Govt notifies fresh DTAA with Indonesia

CASE LAW

2016-TII-75-ITAT-MUM-INTL

ADIT Vs LLOYDS REGISTER UK : MUMBAI ITAT (Dated: March 18, 2016)

Income Tax - Section 9 - India-UK-DTAA - Articles 9 & 13.

Keywords - business income - capital gain - FTS - management charge - royalty - set off loss.

Whether the CIT(A) cannot hold 50 % of management charges taxable, when he has not analysed the bills that would given him a clear and fair idea as to which services were actually rendered by the assessee and that which could be treated MS or otherwise - YES:ITAT

Whether assessee can set off business loss arising out of bad debts and leave-encashment against long-term capital gain and income from other sources - YES: ITAT

Appeals partly allowed

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