Tax alert: Situs of intangible asset depends on owner’s location has been saved
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Tax alert: Situs of intangible asset depends on owner’s location
29 April 2024
The Mumbai Bench of the Income-tax Appellate Tribunal has held that as the situs of an intangible asset is the location of the owner of such asset, hence, the income arising on transfer of a television channel, being an asset situated outside India, was not taxable in India.
