Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
For Section 44B, "carriage" of passengers by a foreign shipping enterprise extends beyond transportation between two ports. A round cruise voyage may remain passenger carriage where passengers can disembark at intermediate ports and the principal receipts arise from cabin and transport fares. On-board hospitality and entertainment are ancillary to the voyage and do not, by themselves, remove cruise operations from the presumptive taxation scheme. The text states that the non-resident cruise operator's income was therefore computable under Section 44B at the prescribed presumptive rate, and the concurrent finding treating the activity as passenger carriage was affirmed.
For Section 44B, "carriage" of passengers by a foreign shipping enterprise extends beyond transportation between two ports. A round cruise voyage may remain passenger carriage where passengers can disembark at intermediate ports and the principal receipts arise from cabin and transport fares. On-board hospitality and entertainment are ancillary to the voyage and do not, by themselves, remove cruise operations from the presumptive taxation scheme. The text states that the non-resident cruise operator's income was therefore computable under Section 44B at the prescribed presumptive rate, and the concurrent finding treating the activity as passenger carriage was affirmed.
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