Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
The case dealt with the taxability of income in India related to royalty receipts and Tax Deducted at Source (TDS) u/s 195. The respondent did not deduct tax on remittance to a foreign party for software procurement, claiming it wasn't royalty. Both the CIT(A) and Tribunal agreed. The High Court referred to precedent stating non-retrospective application of Explanation 6 to Section 9(1)(vi) of the Income Tax Act. The Supreme Court upheld this view, clarifying that Explanation 6 cannot be applied retrospectively. Rejecting the Revenue's attempt to apply Explanation 4 retrospectively, the court ruled in favor of the assessee.
The case dealt with the taxability of income in India related to royalty receipts and Tax Deducted at Source (TDS) u/s 195. The respondent did not deduct tax on remittance to a foreign party for software procurement, claiming it wasn't royalty. Both the CIT(A) and Tribunal agreed. The High Court referred to precedent stating non-retrospective application of Explanation 6 to Section 9(1)(vi) of the Income Tax Act. The Supreme Court upheld this view, clarifying that Explanation 6 cannot be applied retrospectively. Rejecting the Revenue's attempt to apply Explanation 4 retrospectively, the court ruled in favor of the assessee.
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