Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
Intermediary service classification fails where overseas admission facilitation is supplied independently, preserving export treatment and small-provi...
Satellite transponder bandwidth is telecommunication, not Business Support Service; foreign non-telegraph providers triggered no service tax liability...
Commitment proceedings gain extended timelines, structured defect refiling, and automatic resumption of inquiry after the adjusted completion period e...
Assessee, a non-resident Indian, did not file return of income for AY 2014-15 as TDS on interest income from investment was deducted at 12.5% instead of 10% under India-UAE DTAA. Assessment order lacked direction or satisfaction for penalty proceedings u/s 271(1)(c). Case neither involved concealment nor furnishing inaccurate particulars of income as declared income was accepted. Assessee's belief of proper TDS deduction based on legitimate expectation accepted. Penalty proceedings unsustainable under law. Point determined in favor of assessee against revenue.
Assessee, a non-resident Indian, did not file return of income for AY 2014-15 as TDS on interest income from investment was deducted at 12.5% instead of 10% under India-UAE DTAA. Assessment order lacked direction or satisfaction for penalty proceedings u/s 271(1)(c). Case neither involved concealment nor furnishing inaccurate particulars of income as declared income was accepted. Assessee's belief of proper TDS deduction based on legitimate expectation accepted. Penalty proceedings unsustainable under law. Point determined in favor of assessee against revenue.
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