S. 148: Reassessment -Notice – Constitutional Validity – Issued between April 01, 2021 to June 30, 2021 – Without following S. 148A – Conducting inquiry , providing opportunity before issue of notice under section 148 – Taxation and other Law (Relaxation and Amendment of Certain Provisions) Act, 2020 and subsequent notifications – held Constitutionally Valid. [ S. 147,148A, Art, 226 ]

S. 92C : Transfer pricing – Arm’s length price – CUP method -Interest-free debt funding of an overseas company in the nature of a special purpose vehicle interest-free debt funding of an overseas company in the nature of a special purpose vehicle – Cannot be compared with loan simpliciter – Cannot be subjected to arm’s length price . [ S. 92A, 92B ]

S. 9(1)(i): Income deemed to accrue or arise in India – Change of domicile from British Virgin Islands to Mauritius- – Entitle to benefits of India-Mauritius DTAA – Dependent agency permanent establishment ( DAPE ) – As long as an agent is paid an arm’s length remuneration for the services rendered, nothing survives for taxation in the hands of the dependent agency permanent establishment- DTAA- India – Mauritius [ Art , 5(4), 7(2) ] S. 9(1)(i): Income deemed to accrue or arise in India – Change of domicile from British Virgin Islands to Mauritius- – Entitle to benefits of India-Mauritius DTAA – Dependent agency permanent establishment ( DAPE ) – As long as an agent is paid an arm’s length remuneration for the services rendered, nothing survives for taxation in the hands of the dependent agency permanent establishment- DTAA- India – Mauritius [ Art , 5(4), 7(2) ]

S. 254(2): Appellate Tribunal-Rectification of mistake apparent from the record – Ex -parte order was passed 30 -3 -2010 – Order was not served on the assessee – The assessee came to know the passing of order on the issue of TRO notice dated 21 -1 2020 – The order was down loaded from the Official website of the ITAT and Miscellaneous application was filed with in six months of date of downloading of the order – The limitation period to be counted from the date of communication or knowledge , actual or constructive – Miscellaneous application was allowed- Ex parte order was recalled and Registry was directed to fix the appeal for hearing on merit . [ S. 254 ( 1), ITAT R. 24 ]

S. 254(2A) : Appellate Tribunal-Stay-Stay-Justified in imposing condition upon assessee to pay Rs. 20 crores for granting stay against outstanding demand of Rs. 269.96 crores. [S. 220, Art. 226)

S. 254(1) : Appellate Tribunal-Duties-Order passed in a cryptic and cavalier manner-Matter was remanded back to Tribunal. [S. 40(a)(ia), 194I]

S. 254(1) : Appellate Tribunal-Duties-Transfer pricing-Arm’s length price-Order passed in a cryptic and cavalier manner-Matter was remanded back to Tribunal. [S. 92C]

S. 249 : Appeal-Commissioner (Appeals)-Form of appeal and limitation-e-filing of appeals-Right of appeal is a statutory and valuable right and such right should not be denied on technical ground. [S. 246A]

S. 239 : Refund-Limitation-Advance tax paid-Excess amount paid-Not entitle to refund of the amount before completion of previous year. [S. 119(2)(b), Rule, 41, Art. 226]

S. 237 : Refund-Computation of amount of tax refund-Alternative remedy-Writ is not maintainable. [Art. 226]