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...
Outright acquisition of trademark ownership for lump-sum consideration constitutes acquisition of a capital asset rather than payment for the use of intellectual property or continuing royalty. A foreign remittance for such transfer does not by itself create a tax deduction obligation under section 195; withholding applies only where the remitted sum is chargeable to tax in India. Where the assignment agreement, transferred rights, valuation, commercial terms, ownership evidence and recipient's tax residency certificate establish an ownership transfer, the payer cannot be treated as in default for non-deduction of tax. Demands for tax and consequential interest under sections 201(1) and 201(1A) were deleted.
Outright acquisition of trademark ownership for lump-sum consideration constitutes acquisition of a capital asset rather than payment for the use of intellectual property or continuing royalty. A foreign remittance for such transfer does not by itself create a tax deduction obligation under section 195; withholding applies only where the remitted sum is chargeable to tax in India. Where the assignment agreement, transferred rights, valuation, commercial terms, ownership evidence and recipient's tax residency certificate establish an ownership transfer, the payer cannot be treated as in default for non-deduction of tax. Demands for tax and consequential interest under sections 201(1) and 201(1A) were deleted.
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