Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
The ITAT held that foreign salary earned in Sweden and credited to a Swedish bank account formed part of a foreign asset for Black Money Act purposes, so any taxability would arise only in the year the asset came to the AO's notice, not in the year the salary was earned. On the facts, information reached the Department only in November 2021, making the AY 2016-17 addition unsustainable. The Tribunal also applied Article 15(1) of the India-Sweden DTAA and section 90(2) of the Income-tax Act, holding that the salary was not chargeable to tax in India because the employment was exercised in Sweden for a Swedish resident employer. The additions for AY 2016-17 and AY 2018-19 were deleted.
The ITAT held that foreign salary earned in Sweden and credited to a Swedish bank account formed part of a foreign asset for Black Money Act purposes, so any taxability would arise only in the year the asset came to the AO's notice, not in the year the salary was earned. On the facts, information reached the Department only in November 2021, making the AY 2016-17 addition unsustainable. The Tribunal also applied Article 15(1) of the India-Sweden DTAA and section 90(2) of the Income-tax Act, holding that the salary was not chargeable to tax in India because the employment was exercised in Sweden for a Swedish resident employer. The additions for AY 2016-17 and AY 2018-19 were deleted.
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