Thursday, July 9, 2009 |
1. NECTAR BEVERAGES PVT. LTD. (SC)
According to the Department, notwithstanding, the deletion of Section 41(2), since the assessee had obtained the benefit of depreciation in the earlier years as allowance or deduction in respect of expenditure incurred by it when it bought bottles and crates, on recoupment in the assessment years in question, such recoupment was liable to be taxed as deemed income under Section 41(1). 2. FACTSET RESEARACH SYSTEMS INC. (AAR) Advance Ruling in Fact Set Research Systems Inc on use of Database: not royalty under Act & INDIA USA DTAA. (Click here for pronouncement of AAR)
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