Supreme Court: J.B. Boda & Co. Pvt. Ltd vs CBDT
Last updated: 02 April 2022
Court :
Supreme Court of India
Brief :
From above decision it is clear that if a reinsurance broker deduction it’s commission and remit balance commission to the foreign re-insurers with the permission of Reserve Bank of India ad according to the terms and conditions of an agreement with the broker and the foreign re-insurer, then commission retained by the Indian Re-insurance broker will b deemed as received from Foreign Re-insurer in convertible foreign exchange and in compliance with the provisions of Section 80-O of the Income Tax Act,1961.
Citation :
M/S J.B. Boda & Co. Pvt. Ltd vs Central Board Of Direct Taxesnew
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FCS Deepak Pratap Singh
Published in Income Tax
Views : 349
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