Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
A co-operative bank's TDS position on interest paid to co-operative society depositors was traced to the CBDT Explanatory Note, not the proviso inserted in section 194A(3); the Court treated the Note as binding on the Department and held that the proviso only curtailed the broader exemption available to other co-operative societies. The proviso's constitutional challenge failed because exemption from TDS is a matter of legislative policy and section 80P is only a deduction provision, not a full tax exemption. The challenge based on administrative burden also failed, and protection was sustained for non-deduction done in obedience to subsisting interim orders.
A co-operative bank's TDS position on interest paid to co-operative society depositors was traced to the CBDT Explanatory Note, not the proviso inserted in section 194A(3); the Court treated the Note as binding on the Department and held that the proviso only curtailed the broader exemption available to other co-operative societies. The proviso's constitutional challenge failed because exemption from TDS is a matter of legislative policy and section 80P is only a deduction provision, not a full tax exemption. The challenge based on administrative burden also failed, and protection was sustained for non-deduction done in obedience to subsisting interim orders.
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