Interpretation -Natural Justice – There is a clear distinction between cases where there was no hearing at all and the cases where there was mere technical infringement of the principle
Interpretation -Natural Justice – There is a clear distinction between cases where there was no hearing at all and the cases where there was mere technical infringement of the principle
Interpretation -Natural Justice – There is a clear distinction between cases where there was no hearing at all and the cases where there was mere technical infringement of the principle
S. 245C : Settlement Commission – Second application – No bar for filing second application [ S. 245D(1), 245K(2), Art , 226 ]
S. 69 :Unexplained investments – HSBC Bank -Black Money- Burden is on revenue to prove that money belongs to the assessee- Mere holding a joint bank account does not mean that the money belongs to the assessee- Addition is deleted [ S.69A ]
S. 68 : Cash credits- Source of source – Cash deposited – Brother in law and close friends – How money was transferred from Bangalore to Goa was not satisfactorily explained – – Addition is held to be justified .[ S. 153A ]
S. 37(1) : Business expenditure – Temporary suspension of business -Real estate business-Work in progress- Change in method of accounting – Genuineness of expenses not doubted – Allowable as deduction [ S.145 ]
S. 37(1) : Business expenditure –Capital or revenue- Foreign travel expenditure -Acquisition of business- Repair and maintenance – Bonafide expenditure incurred , wholly and exclusively for the purpose of business would be allowable .
S. 9(1)(vi) : Income deemed to accrue or arise in India – Royalty -Interpretation of statutes and DTAA – DTAA- India – Singapore [ S. 9(1) (vii), 90 , 195 , Art . 12 ]
S.139: Return- A representative office of a foreign enterprise is not a taxable unit-The foreign enterprise is the taxable unit- A return of income filed in the name of the representative office, with the PAN of the enterprise, offering only the income of the representative office & excluding the other Indian income of the enterprise is not proper- DTAA- India -Germany [ S. 9 (1) (i), 115A(5), Art .7, 11(5) ]
S. 90 :Double taxation relief – Book Profit – The fact that profits of foreign branches of a resident are taxed outside India under tax treaties does not imply that the said income is not taxable in India. The entire global income has to be taxed in India- The assesseee is entitled to credit for taxes paid abroad, as admissible under the treaty or the domestic law – Even profits of foreign branches which are taxed under the tax treaties are also liable for MAT. [ S.115JB ]