NCLAT: Consideration of Debt Restructuring by Lenders Doesn’t Bar Member from Initiating Proceedings || Delhi High Court: In Matters of Medical Evaluation, Courts Should Exercise Restraint || Delhi HC: Any Person in India Has Right to Legally Import Goods from Abroad and Sell the Same || Delhi HC: Waiver to Section 12(5) of Arbitration Act to be Given Once Tribunal is Constituted || Supreme Court Has Asked States to Regularise Existing Court Managers || SC: Union & States to Create Special POSCO Courts on Top Priority || SC Upholds Authority of CERC to Award Compensation for Delays || SC: Arbitral Tribunal Has Discretion to Include in Sum Awarded, Interest at Rate as it Deems Reasonab || SC: Cannot Use Article 142 to Frame Guidelines on Judicial Recusal || SC: Satisfaction Recorder in One EP Won’t Affect Subsequent EPs for Future Breaches

ITAT, Pune: Reimbursement on Welfare Expenses Incurred by Multinationals in India Not Taxable - (18 May 2021)

DIRECT TAXATION

Income Tax Appellate Tribunal (ITAT), Pune has said that reimbursement on welfare expenses incurred by multinationals in India shall not be taxable if two conditions are fulfilled. The Tribunal has said that there should be a one-to-one direct correlation between the outgo of the payment and inflow of the receipt, and secondly, the receipt and payment must be of identical amount that is without the profit element.

Tags : INCOME TAX APPELLATE TRIBUNAL REIMBURSEMENT ON WELFARE EXPENSES INCURRED BY MULTINATIONALS IN INDIA

Share :