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...
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Non-deduction of tax on leave fare concession payments made while binding interim directions of the Madras High Court were in force did not render the assessee an assessee in default. The Tribunal held that the statutory TDS obligation could not be enforced in disregard of those judicial directions, and the later Supreme Court ruling on the substantive taxability of the payments could not retrospectively create default liability for that earlier period. The demands under section 201(1) and section 201(1A) were deleted. Once the default demand failed, the consequential penalty under section 271C also could not survive and was deleted.
Non-deduction of tax on leave fare concession payments made while binding interim directions of the Madras High Court were in force did not render the assessee an assessee in default. The Tribunal held that the statutory TDS obligation could not be enforced in disregard of those judicial directions, and the later Supreme Court ruling on the substantive taxability of the payments could not retrospectively create default liability for that earlier period. The demands under section 201(1) and section 201(1A) were deleted. Once the default demand failed, the consequential penalty under section 271C also could not survive and was deleted.
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