Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
The Tribunal upheld taxation under the concessional regime of section 115BAA and held that section 115JB could not be applied for the year in dispute. It accepted the first appellate authority's view that the assessee's option under section 115BAA was valid, and rejected the Revenue's objection based on the timing of filing Form 10-IC. The Tribunal also noted that the assessee had been processed under section 115BAA for three earlier years, and applied the principle of consistency to support the same tax treatment for the year under appeal. The Revenue's challenge was dismissed and the appellate relief was sustained.
The Tribunal upheld taxation under the concessional regime of section 115BAA and held that section 115JB could not be applied for the year in dispute. It accepted the first appellate authority's view that the assessee's option under section 115BAA was valid, and rejected the Revenue's objection based on the timing of filing Form 10-IC. The Tribunal also noted that the assessee had been processed under section 115BAA for three earlier years, and applied the principle of consistency to support the same tax treatment for the year under appeal. The Revenue's challenge was dismissed and the appellate relief was sustained.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
