Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
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The High Court examined reassessment proceedings involving income from aircraft leasing treated as royalty under the Income Tax Act and India-Ireland Double Taxation Avoidance Agreement (DTAA). The Assessing Officer held the consideration received by the petitioner was royalty for aircraft use, taxable u/s 9(1)(vi) and the DTAA. The Court found the AO's view unsustainable based on a plain reading of Article 12(3)(a) of the DTAA. It opined invoking Section 9(1)(vi) would be impermissible given the DTAA's express exemption, as DTAAs override domestic legislation being more beneficial to the assessee. Accordingly, the reassessment notice u/s 148 was quashed and set aside.
The High Court examined reassessment proceedings involving income from aircraft leasing treated as royalty under the Income Tax Act and India-Ireland Double Taxation Avoidance Agreement (DTAA). The Assessing Officer held the consideration received by the petitioner was royalty for aircraft use, taxable u/s 9(1)(vi) and the DTAA. The Court found the AO's view unsustainable based on a plain reading of Article 12(3)(a) of the DTAA. It opined invoking Section 9(1)(vi) would be impermissible given the DTAA's express exemption, as DTAAs override domestic legislation being more beneficial to the assessee. Accordingly, the reassessment notice u/s 148 was quashed and set aside.
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