S. 92B : Transfer pricing-International Transactions-Provision of corporate guarantee-Loan Advanced to Associated Enterprise-Tribunal remanded the matter to Commissioner (Appeals)-Order of Tribunal affirmed by High court-SLP of Assessee is dismissed. [Art. 136]
S. 92 : Transfer pricing-Arm’s length price-Management services, management information services, information resources and system development-Reimbursement of expenses-Order of Tribunal affirmed-DTAA-India-USA. [S. 260A, Art. 12(4)(b)]
S. 90 : Double taxation relief-Agreement-Taxing receipts-Question of fact-No substantial question of law-DTAA-India-USA. [Art. 12, 260A]
S. 80G : Donation-Charitable institutions-Registered under section 12AA is not sufficient-Disqualification for spending more than 5 Per cent of receipts for religious purposes-Matter remanded to the Commissioner Exemption for examining the matter afresh. [S. 12AA, 89G(5), Rule 11AA]
S. 64 : Clubbing of income-Minor child-Deduction of tax source-Interest-Accrual-Tax to be deducted by bank as and when interest accrued even before child attained majority-Method of accounting-The provisions of section 64(1A) are not ultra vires the Constitution of India. [S. 64(IA), 145, 194A, 197(1), 264]
S. 45 : Capital gains-Sale of Non-Convertible Debentures With Detachable Warrants-Valuation of cost of detachable warrants-Valuation was accepted by assessee-Tribunal affirming the cost-Order of Tribunal affirmed.
S. 37(1) : Business expenditure-Commission-Not supported by evidence-Disallowance is affirmed.
S. 37(1) : Business expenditure-Capital or revenue-Repairs and improvements in leased premises-Allowable as revenue expenditure. [Art. 136]
S. 14A : Disallowance of expenditure-Exempt income-No exempt income during the year-Deletion of addition is justified. [R. 8D]
S. 11 : Property held for charitable purposes-Charitable purposes-Business activity-Amendment makes it necessary to ascertain if activities are for earning profit or for purposes of charitable institution-Ascertainment of facts could not be made in writ proceedings-Writ petition was dismissed. [S. 2(15) Art. 226]