Power to receive documentary evidence upheld; documents referred in complaint may be placed on record without amendment where omission was inadvertent...
Proof of foreign public documents requires originals or certified diplomatic/notarial copies; inspection must occur in-magna presence and cross-examin...
Prior Sanction Requirement: absence of prescribed approval invalidates reassessment notice; limitation also bars notice if escaped income below thresh...
Eligibility for exemption depends on strict construction of the product description; reapers without binder are ineligible, but confiscation and penal...
Short deduction of tax at source did not warrant disallowance under section 40(a)(ia), and the related royalty-characterisation questions were treated as academic. Corporate guarantee commission was upheld at 0.5% because a corporate guarantee to an associated enterprise is not comparable to a bank guarantee, so no substantial question of law arose. On section 14A, where the assessee's own and other non-interest-bearing funds exceeded tax-free investments, a presumption arose that the investments came from interest-free funds, defeating interest disallowance under Rule 8D(2)(ii). Only the re-framed question under section 14A read with Rule 8D(2)(iii) concerning investments yielding exempt income during the year was entertained.
Short deduction of tax at source did not warrant disallowance under section 40(a)(ia), and the related royalty-characterisation questions were treated as academic. Corporate guarantee commission was upheld at 0.5% because a corporate guarantee to an associated enterprise is not comparable to a bank guarantee, so no substantial question of law arose. On section 14A, where the assessee's own and other non-interest-bearing funds exceeded tax-free investments, a presumption arose that the investments came from interest-free funds, defeating interest disallowance under Rule 8D(2)(ii). Only the re-framed question under section 14A read with Rule 8D(2)(iii) concerning investments yielding exempt income during the year was entertained.
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