Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Data transmission equipment classification under CTSH 8517 62 remains distinct from residual classification, with exemption evidence requiring scrutin...
Offence punishable u/s 276C(2) r.w.s. 278B of the Income Tax Act - Delay of 8 years in payment of tax - willful attempt to evade the tax or not? - Tax liability declared in the ITR as self-assessment but the tax and interest were not paid - The High Court observed that, The action on the part of the applicants to pay the tax due under five days of the notice militates against the stand of the Income Tax Department that there was an intent to evade the tax throughout. - Consequently, the HC held that in the facts of the case the continuation of the prosecution for the offence punishable u/s 276C(2) amounts to abuse of the process of the Court - Prosecution proceedings quashed and set aside.
Offence punishable u/s 276C(2) r.w.s. 278B of the Income Tax Act - Delay of 8 years in payment of tax - willful attempt to evade the tax or not? - Tax liability declared in the ITR as self-assessment but the tax and interest were not paid - The High Court observed that, The action on the part of the applicants to pay the tax due under five days of the notice militates against the stand of the Income Tax Department that there was an intent to evade the tax throughout. - Consequently, the HC held that in the facts of the case the continuation of the prosecution for the offence punishable u/s 276C(2) amounts to abuse of the process of the Court - Prosecution proceedings quashed and set aside.
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