Recent ruling of the Mumbai Income Tax Appellate Tribunal (ITAT) in the case of J Ray McDermott Eastern Hemisphere Ltd. (Taxpayer). The ITAT held that receipts pertaining to transportation and installation contract executed by the Taxpayer outside India cannot be taxed under the special provisions, which provide for taxation of certain income of a non-resident on presumptive basis, if the income is not chargeable to tax under the general provisions of the Indian Tax Law.
Attached File : 49 ey tax alert mumbai itat rules on scope of presumptive basis of taxation j ray mcdermott .pdf downloaded: 175 times
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