Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
Offshore Supply Contracts were executed and concluded outside India, hence no income deemed to accrue or arise in India as per Section 9(1) and DTAA provisions. Receipts from such contracts do not form part of business receipts for computation u/s 44BBB. Explanation 4 cannot override limitation imposed by Explanation 1(a) to Section 9(1)(i). The Tribunal, following Supreme Court's judgment in Ishikawajima-Harima Heavy Industries Limited, held that the impugned income does not form part of business receipts for Section 44BBB computation. The assessee's appeal was allowed.
Offshore Supply Contracts were executed and concluded outside India, hence no income deemed to accrue or arise in India as per Section 9(1) and DTAA provisions. Receipts from such contracts do not form part of business receipts for computation u/s 44BBB. Explanation 4 cannot override limitation imposed by Explanation 1(a) to Section 9(1)(i). The Tribunal, following Supreme Court's judgment in Ishikawajima-Harima Heavy Industries Limited, held that the impugned income does not form part of business receipts for Section 44BBB computation. The assessee's appeal was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
