Applicant-Russian company is not liable to pay tax under provisions of the Income-tax Act read with India – Russia DTAA in respect of amount received from NTPC for execution of offshore supply contract as all transactions took place outside India; materials were shipped outside India, title and property passed outside India and payment was received outside India - Joint Stock Company Foreign Economic Association "Technopromexport", In re [AAR No. 827 of 2009] [2010] 3 taxmann.com 10 (AAR - NEW DELHI)

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The clauses in the offshore supply contract Agreement regarding transfer of ownership, the payment mechanism in the form of letter of credit which ensures the credit of the amount in foreign currency to the applicant's foreign bank account on receipt of shipment advice and the insurance clause would go to establish that the transaction of sale and the concomitant transfer of title took place outside the Indian territory; the documents relating to a sample transaction filed by the applicant i.e. the certificate of origin, the bill of lading, the bill of entry as well as the commercial invoice reinforces the conclusion that the ownership and property in goods passed outside India 

Demarcated space in warehouse of Independent Service Provider (ISP) constitutes fixed place of business within meaning of Article 5.1 of Indo-Singapore DTAA - Seagate Singapore International Headquarters Pvt. Ltd., In re [AAR No. 831/2009] [2010] 3 taxmann.com 9 (AAR - NEW DELHI)

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A distinct situs or an earmarked place with certain degree of permanence from where any business activity is carried on is what is envisaged by Article 5.1 to be a fixed place of business; it is not necessary that the fixed place should be owned or hired by the foreign enterprise 

When notice is served through Courier extra caution is required; caution has to be necessarily in the form of proper identification of the person upon whom the notice is service - ACIT v. Ashiana Automobiles Pvt. Ltd. [ITA Nos. 176 & 177 (Pat.)/2008] [2010] 3 taxmann.com 12 (PAT. - ITAT)

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If notice is not sent through registered post but service through Courier is preferred, then a proper acknowledgment of service with identification that it is being served on the person named in the notice should be on record; when service of notice is challenged by the assessee, then evidence in the form of acknowledgment, certificate from the Courier and proper authorization to the Courier should be shown to the assessee so that no link in between is apparently missed 

Transfer Pricing: TNM method requires comparison of net profit margins and not operating margins of enterprises - Addl. CIT v. Tej Diam [ITA No. 5034/Mum/2007] [2010] 3 taxmann.com 11 (MUM. - ITAT)

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Where the assessee adopted the CUP method for computing the ALP of the international transaction with its associated enterprise, the TPO as well as the AO committed an error by wrongly applying TNM method on the ground that the assessee did not give any comparables 

Direct tax code to be launched in monsoon session 

FM may expand rlys' exempted goods list 

Govt in talks with 20 tax havens for information 

Disclosure of details of the allottees in the Qualified Institutional Placements (QIP) made by issuer company

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Circular No. SEBI/CFD/DIL/LA/1/2010/05/03, dated 5-3-2010 

List of Terrorist Individuals/ Organisations - under UNSCR 1267(1999) and 1822(2008) on Taliban/Al-Qaida Organisation

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Circular No. DBOD. AML.No.15154 /14.06.062/2009-10, dated 4-3-2010 

SEZs : Procurement, Import and Export of Prohibited and Restricted Goods

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Instruction No. 47, dated 4-3-2010 

Surplus K'taka budget hikes VAT by 1pc, luxury tax 

NSC, DIPP clash over FDI rule change 

SEZ units permitted to re-export restricted items 

TDS under section 195 - Assessee-company was engaged in business of project and construction management - It entered into a management service agreement with one of its group concerns, namely, 'L' located in Singapore - Under said agreement, 'L' agreed to provide services to assessee-company in relation to day-to-day business operations consisting of administrative, legal, finance and accounting matters - In consideration of rendering of services, 'L' agreed to recover only costs incurred by it for providing above services to assessee-company Held that since reimbursement of expenses to 'L' related to fee for technical services, section 195 would be applicable to instant case however, in view of fact that all services had been provided by 'L' offshore, assessee would not incur any liability to deduct tax towards amount paid in respect of services - Bovis Lend Lease (India) (P.) Ltd. v. Income-tax Officer, International Taxation, Ward - 19(1), Bangalore [2010] 36 SOT 166 (BANG.) [IT APPEAL NOS. 636, 637, 665 & 1452 (BANG.) OF 2008  AND 676 TO 679 (BANG.) OF 2009]

DTA with UAE - Actual payment of tax in one of Contracting States is not a condition precedent to avail of benefits of Indo-UAE tax treaty in other Contracting - Hindustan Petroleum Corporation Ltd. v. Assistant Director of Income-tax, International Taxation 3(1), Mumbai [2010] 36 SOT 120 (MUM.) [IT APPEAL NOS. 5273, 5274, 5761 and 5762 (MUM.) OF 2004]