S.14A: Disallowance of expenditure-Exempt income-Rule 8D not applicable in absence of requisite data-Disallowance restricted to 10 per cent. of dividend income. [R. 8D]
S.14A: Disallowance of expenditure-Exempt income-Rule 8D not applicable in absence of requisite data-Disallowance restricted to 10 per cent. of dividend income. [R. 8D]
S. 9(1)(vii) : Income deemed to accrue or arise in India-Fees for technical services-Non-resident-Composite contract-Supply of drawings and designs-Inextricably linked with offshore supply of plant and equipment-Not Fees for Technical Services-Supervisory services-Permanent Establishment-Receipts connected with supervisory PE-Taxable as business profits on net basis-Matter remanded–Supervisory services-Technical services-Supervisory fee taxable as Fees for Technical Services notwithstanding existence of Permanent Establishment-Reimbursement of expenses-Cost contribution arrangement without mark-up-No profit element-Not Fees for Technical Services-DTAA-India-Austria [S.9(1)(i), 195, Art.5, 7(4), 12]
S. 9(1)(vii): Income deemed to accrue or arise in India-Fees for technical services-Non-resident-India-Singapore DTAA-Management services-“Make available” test not satisfied-Receipts not taxable as Fees for Technical Services-Sale of software licences – Licence agreement transferring only right to use software-No services rendered-Receipts not taxable as Fees for Technical Services. DTAA [-India-Singapore [Art. 12(4)(b)]
S. 4 : Charge of income-tax-Capital receipt-Market Linked focus Product Scheme-Merchandise Exports from India Scheme (MEIS)-Reward under Foreign Trade Policy-Not a subsidy, grant or cash incentive-Sale proceeds of MEIS scrips not taxable.[S. 2(24)(xviii), 28(iiib), 56]
S. 271(1)(c): Penalty-Concealment-Furnishing inaccurate particulars-Defective notice-Mere disallowance of claim not sufficient-Penalty deleted.[S. 147, 148, 274]
S. 271(1)(c): Penalty-Concealment-Licence fee-Interest on delayed payment-Capital or revenue expenditure-Bona fide claim-Penalty not leviable. [S. 35ABB]
S. 270A: Penalty-Under-reporting or misreporting of income-Notice not specifying exact charge-Penalty invalid-Employees’ contribution to Provident Fund and ESI-Issue debatable at relevant time-Penalty not leviable-Ad hoc disallowance of expenditure-Estimated addition-Penalty not leviable.[S.270A(2)(a), 270A(9)]
S. 263: Commissioner-Revision of orders prejudicial to revenue-Weighted deduction for scientific research-Assessee furnished all requisite particulars-Revision not justified.
[S. 35(2AB), 143(3), R. 6]
S. 254 (1): Appellate Tribunal-Powers-Delay of 1,566 days-Wrong legal advice-Delay condoned.[S. 253]
S. 154: Rectification of mistake-Mistake apparent from the record-Employees’ contribution to Provident Fund and ESI-Deposit beyond due date under respective Acts-Disallowance upheld.
[S.36(1)(va) 43B, 139(1), 154]