Departmental appeal limitation after call-book recall preserves original filing, while documented correlation supports SAD refund on imported granules...
Income-tax prosecution fails when appellate remand removes its factual foundation; directors require company arraignment for vicarious criminal liabil...
Capital character of assignment consideration prevents taxation as residuary income, while unsupported interest-related expenditure remains non-deduct...
Make-available condition shields regional support-service receipts from Indian taxation where no independent capability or permanent establishment exi...
Transfer-pricing treatment of corporate guarantees and convertible loans followed prior-year consistency, with taxable foreign dividends excluded from...
Section 263 revision was sustained for fresh examination of interest capitalisation because the actual use of external commercial borrowings for working capital was not demonstrated and the Assessing Officer had made no enquiry; a board resolution stating the borrowing purpose was insufficient. Revision could not, however, reopen matters already examined or direct unfocused verification. Directions concerning tax deduction on interest paid to Government authorities were deleted as they amounted to a fishing or roving enquiry without an identified assessment error. Re-examination of miscellaneous expenditure and service-provider charges was also deleted because the Assessing Officer had examined the evidence and adopted a plausible view, including on the treaty's make available clause.
Section 263 revision was sustained for fresh examination of interest capitalisation because the actual use of external commercial borrowings for working capital was not demonstrated and the Assessing Officer had made no enquiry; a board resolution stating the borrowing purpose was insufficient. Revision could not, however, reopen matters already examined or direct unfocused verification. Directions concerning tax deduction on interest paid to Government authorities were deleted as they amounted to a fishing or roving enquiry without an identified assessment error. Re-examination of miscellaneous expenditure and service-provider charges was also deleted because the Assessing Officer had examined the evidence and adopted a plausible view, including on the treaty's make available clause.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4883 
