S. 37(1) : Business expenditure-Memorandum of Understanding (MoU) with sister concern-Quality difference-Debit note raised-Amount offered as income by sister concern-Order of Tribunal affirmed by High Court-SLP delayed by 392 days-SLP dismissed on account of delay as well as on merits. [Art. 136]
S. 37(1): Business expenditure-Year of deductibility-Settled under Direct Tax Vivad se Vishwas Scheme, 2024-Appeal dismissed as withdrawn. [S. 145 [Art. 136]
S. 37(1) : Business expenditure-Set up-Commencement of business-Operating and financial expenses-Plant construction was incomplete-SLP of revenue dismissed.[Art. 136]
S. 36(1)(vii) :Bad debt-Deduction is not allowable where the amount written off was never considered as income earlier and when the Assessee is not in the business of moneylending.[S. 36(2), 56, 57(iii)]
S. 28(i): Business loss-Penny Stock-Bogus purchses-Genuineness of Transactions-Concurrent findings of fact-Dealy of 325 days-SLP of revenue dismissed on account of delay and merits due to low tax effect-Question of law kept open. [Art. 136]
S.14A: Disallowance of expenditure-Exempt income-Rule 8D-Applied prospectively from AY 2008-09.[R.8D]
S. 12AA: Procedure for registration-Trust or institution-Registration of Educational Trust-Delay in Application, Family Trustee Clause, Supplementary Deed, and Surplus Income-Registration cannot be denied.[S.11, 12, 260A]
S. 10 (23C): Hospital-Profit motive-Exemption rightly denied-Permitted to withdraw the appeal-Appeal was dismissed as withdrawn. [S.10(23C)(via), Art. 136]
S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-
Subscription fees for remote access to CRM application without any transfer of copyright are not “royalty” under Sec. 9(1)(vi) and not taxable—SLP dismissed-DTAA-India-Singappore. [Art. 12, Art. 136]
S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Consideration paid for transponder services-whether Royalty under Section 9(1)(vi) of the Act and/or Article 12 of the India-USA DTAA-Notice issued under SLP-Supreme could also ordered for stay of the order of Hon. Bombay High Court-DTAA-India-USA [S.195 Art. 12,Art. 136]