S. 15 : Salaries-Employed in GEII-Assignment to Australia-Remission of salary to Indian Bank-Cannot be taxed as salary earned in India-DTAA-India-Australia. [S. 5, Art. 15]
S. 15 : Salaries-Employed in GEII-Assignment to Australia-Remission of salary to Indian Bank-Cannot be taxed as salary earned in India-DTAA-India-Australia. [S. 5, Art. 15]
S. 14A : Disallowance of expenditure-Exempt income-Own funds are more than investments-Presumption that investment was made out of own funds-No disallowance can be made. [R. 8D]
S. 14A : Disallowance of expenditure-Exempt income-Own funds exceeded amount of investment in shares-No disallowance can be made. [R. 8D]
S. 14A : Disallowance of expenditure-Exempt income-Disallowance under Rule 8D(2)(iii) is to be done by taking into account dividend bearing securities only. [S. 10(34), R.8D(2)(iii)]
S. 14A : Disallowance of expenditure-Exempt income-Short term borrowings-Equity shares held as stock in trade-portion of interest expenses related to earning of exempt dividend income had to be disallowed-Matter remanded-Method of valuation-Stock in trade-Matter remanded. [RR. 8D]
S. 14A : Disallowance of expenditure-Exempt income-Investment from interest free own funds-No disallowance can be made. [R. 8D(2)(ii)]
S. 12AA : Procedure for registration-Trust or institution-Advocate welfare fund trustee committee-Charitable in nature-Entitle to registration. [S. 2(15), 80G]
S. 12AA : Procedure for registration-Trust or institution-Visakhapatnam Metro Region Development Authority-Cancellation of registration is held to be not justified. [S.2(15), Andhra Pradesh Urban Areas (Development) Act, 1975, S.19]
S. 12AA : Procedure for registration-Trust or institution-Engaged in safeguarding rights, privileges and interest of advocates-Purpose being advancement of general public utility-Entitled for registration and exemption under section 80G of the Act. [S. 2(15), 10(23), 80G]
S. 11 : Property held for charitable purposes-Primary objective was to administer payment settlement system for larger benefit of general public and not to run clearing system in a commercial manner or on a commercial basis, assessee’s activities were charitable-Exemption cannot be denied. [S. 2(15), 12, 13(3), Companies Act, 1956, S. 25]