Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
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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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