Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
PILCOM was treated as only a managing committee for the World Cup, not an independent assessable entity or association of persons, so the protective additions could not stand. The Tribunal held that receipts and relating to matches in India, and the common receipts already covered in the assessee's accounts and return under the agreed financial arrangement, could not be separately taxed again in PILCOM's hands. It also held that amounts linked to matches outside India were not taxable on a protective basis where the assessee neither received nor was entitled to receive them. The Revenue's appeal failed and the deletion of the protective assessment was upheld.
PILCOM was treated as only a managing committee for the World Cup, not an independent assessable entity or association of persons, so the protective additions could not stand. The Tribunal held that receipts and relating to matches in India, and the common receipts already covered in the assessee's accounts and return under the agreed financial arrangement, could not be separately taxed again in PILCOM's hands. It also held that amounts linked to matches outside India were not taxable on a protective basis where the assessee neither received nor was entitled to receive them. The Revenue's appeal failed and the deletion of the protective assessment was upheld.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4796
Join Channel
TaxTMI 
