S. 9(1)(vii) : Income deemed to accrue or arise in India-Fees for technical services-Marketing services-Commission on sales-Subsidiary of SEPL India-Performed pure sales function by connecting potential customers from US by performing presales activity of introducing SEPL India-Not taxable in India-DTAA-India-USA[Art. 12]
S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Offshore sales of books/journals or providing access to online journals/online library-Not royalty-Services of providing access to online database/journals did not fall under FIS as services did not satisfy clause make available as required for provisions of article 12 of DTAA-India-USA [S.9(1)(vii), Art. 12]
S. 9(1)(v) : Income deemed to accrue or arise in India-Interest-Interest payment to China Development Bank (CDB)-Financial institution wholly owned by Government of China-Exemption-Not liable to deduct tax at source-DTAA-India-China.[S. 195, Art. 11(3)]
S. 9(1)(ii) : Income deemed to accrue or arise in India-Salaries-Shipping, Inland waterways Transport and Air Transport-Salary-Salary income received by assessee-NRI from his foreign employer for working in international waters is exempt income-DTAA-India-Singapore. [S. 2(25A), 5(2)(b) 6, Art.8]
S. 2(42A) : Short-term capital asset-Capital gains-Unlisted shares-Investment in a residential house-Amended provisions of section 2(42A), which exclude holding period of unlisted shares being held for 12 months to be treated as long-term capital gain is applicable from assessment year 2015-16-Shares held around 31 months-Matter remanded to decide issue afresh as per provisions of law. [S. 45, 54F]
S. 119 : Central Board of Direct Taxes- Circular – Return of income – Condonation of delay – Jurisdictional error – Power vested in CBDT – Order passed by Dy.CIT (OSD) (OT & WT) is without jurisdiction – Quashed and remanded to CBDT. [ S.119(2)(b) , 139, Art. 226 ]
S. 147: Reassessment – Objection disposed along with the assessment order – Order passed without disposing the objection by passing a separate order- Failure to dispose of objections separate order – Reopening notice and reassessment order is quashed and set aside . [S. 80 IA, 142 (1), 143(3),148, Art. 226 ]
Maharashtra Stamps Act, 1958
S. 48 :Application for relief under section 47 – Period for application for relief – Refund Of Stamp Duty – Amended limitation period – Deed of cancellation- Deed of rectification- Accrued right to claim refund arose the moment the cancellation deed is validly executed- Entitled to the benefit of unamended provision of S.48(1)- No Power with Chief Controlling Revenue Authority, Maharashtra State, Pune (CCRA) to recall its own order- Directed to refund the amount with interest @ 6 percent from the date of first order. [S. 47 ,50, Limitation Act, 1963 ,S.30, Registration Act, 1908 , S. 47 ]
S. 272A : Penalty-Failure to answer questions-Sign statements-Furnish information-Substantial compliance-Levy of penalty is not justified. [S. 143(3), 272A(1)(d)]
S. 271(1)(c) : Penalty-Concealment-Mere disallowance of expenditure no penalty can be levied. [S. 274]