S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-Permanent Establishment-Supply and delivery of equipment and supervision, installation, erection and commissioning activity-Single composite contract-Assessee had PE in India-Income attributable to Indian PE from said contracts is taxable in India-Matter remanded to the file of the AO for computation-DTAA-India-Germany. [Art. 5, 7]

S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-Permanent establishment-Agency PE-Indian subsidiary-Advertisement sales agent-Not dependent PE-Not taxable in India-DTAA-India-Mauritius [Art. 5(4)]

S. 4 : Charge of income-tax-Interest income-Temporarily parked / deposited with banks on fixed deposits-Prior to commencement of business-Capital receipt-Required to be set off against pre-operative expenses. [S. 145]

S. 271D : Penalty – Takes or accepts any loan or deposit – Share application money in cash-Looking into the object and purpose of S. 269SS and 269T read with the Explanation defining the words “loan and deposit”, the share application money can neither be said to be loan nor a deposit-Order of Tribunal deleting the penalty is affirmed. [S. 269SS, 269T, 271E, 260A]

S. 271(1)(c) : Penalty – Concealment – Capital gains – Higher valuation as per S.50C – Merely because higher valuation – Levy of penalty is not valid. [S. 45, 50C, 245C, 245D, Art. 226]

S. 263 : Commissioner-Revision of orders prejudicial to revenue -Accrual – Accounting – Once an order become final and stood quashed-Subsequent order is not valid.[S. 143(3),145(1), 260A.]

S. 261 : Appeal-Supreme Court – Condonation of delay of 484 days – Explanation was not satisfactory – SLP of Revenue is dismissed. [Art. 136]

S. 254(2): Appellate Tribunal-Rectification of mistake apparent from the record -Followed Orissa High Court-Not following the Jurisdictional High Court-Mistake apparent on record – Order of Tribunal is quashed – Matter is remanded back to the Tribunal.[Art. 226]

S. 220 : Collection and recovery-Assessee deemed in default-Stay-Adjustment of more than 20 per cent against demand-Credit for TDS and TCS must be considered – Excess amount collected is directed to be refunded. [S. 239, 240 Art. 226]

S. 153 : Assessment – Limitation – Remand by Tribunal – Order received by CIT (Judicial) on 31 st Jan., 2019-Adjustment of refund-Order was passed on 13th Feb., 2023-Order is set aside-Respondents are directed to re-compute the refund payable to the assessee along with statutory interest. [S. 153(3), 237, 240 244A, 254(1), Art. 226]