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Accretion of Hyundai brand due to its usage on Cars manufactured in India isn’t brand promotion: ITAT

May 1, 2017[2017] 81 5 (Chennai - Trib.)/[2017] 187 TTJ 97 (Chennai - Trib.)

IT/ILT : Accretion of brand value, as a result of use of brand name of foreign AE under technology use agreement which has been accepted to be an arrangement at an arm's length price, does not result in a separate international transaction to be benchmarked

IT/ILT : Where assessee took loans from foreign banks, mere fact that loan agreements were signed in local offices of said banks in India, those local affiliates did not constitute their PE in India and, thus, interest paid to foreign banks was not taxable in India

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