S. 9(1)(i): Income deemed to accrue or arise in India-Business connection-Business profits-Composite contract-Service rendered and payment received outside India-Income earned on account of offshore supplies was not taxable-DTAA-India-South Korea.[S. 234B,260A, Art. 7]
S. 2(22)(e): Deemed dividend-Capital contribution by companies in which assessee Firm’s partners were shareholders-Commercial Transaction-Not loans and advances-Not assessable as deemed dividend. [S. 260A]
S. 80IB(10) : Housing projects-Built up area less than 1000 sq.ft-Deduction claimed on basis of approved plans of BMC, occupancy certificate issued by BMC-High Court affirmed the order of Tribunal-SLP of Revenue is dismissed. [Art. 136]
S. 68 : Cash credits-Opportunity to cross examination was not given-Produced affidavit of lenders and notice issued was complied with-High Court affirmed the order of the Tribunal deleting the addition-SLP of Revenue is dismissed. [S. 131, 133(6), Art. 136]
S. 9(1)(vii) : Income deemed to accrue or arise in India-Fees for technical services Deduction of tax at source-Payment to non-resident-Foreign company had not rendered technical services to Indian company-Amount remitted not taxable-Not liable to deduct tax at source-SLP of Revenue is dismissed-DTAA-India-United States of America. [S. 195, 201(1), 201(IA), Art. 12(4), Art. 32]
S. 271-I: Penalty-Deduction of tax at source-Remittances against import of goods-provision for withholding tax and requirement to furnish details not mandatory-forms 15CA and 15CB to be submitted only for payments chargeable to tax in India-Penalty not attracted for failure to furnish forms. [S. 195(6), Form,15CA,15CB,Rule 37BB]
S. 271D : Penalty-Takes or accepts any loan or deposit-Penalty could not be imposed after expiry of period of limitation.[S. 275(1)((c)]
S. 271C : Penalty-Failure to deduct at source-Tax deducted at source-Deposited with interest-Survey-Reasonable cause-Levy of penalty is not justified.[S.133A]
S. 271C : Penalty-Failure to deduct at source-Interest payable to Uttarakhand Environment Protection and Pollution Control Board on FDs with the assessee-Board not a taxable entity, established under Central Act-Penalty not leviable. [S. 194A(3)(iii)(f), Notification No. S. O. 3489(E), Dated 22-10-1970.]
S.271B: Penalty-Failure to get accounts audited-Delay in filing audit report due to change of tax auditor-Reasonable cause for delay-Penalty cannot be levied