Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Income deemed to accrue or arise in India - residential status of the assessee under the India-USA DTAA. Assessee stayed in India for more than 183 days, considered a resident. Economic relationship, place of business, property administration, earning wages are important factors. Assessee has a private limited company in India involved in film distribution, attended board meetings, has operative bank accounts and mutual fund investments. In USA, assessee derives rental income, has bank accounts and investments, but no active involvement in earning wages or profits. Personal and economic relationships tilt more towards India. Assessee is a resident of India under Article 4(2)(a) of the Indo-US DTAA. All income derived in USA is chargeable to tax in India u/s 5 of the Income Tax Act. No tax credit available as no tax paid in USA. Dividend income, capital gains sourced in USA are taxable in India. Order of lower authorities confirmed, decided against assessee.
Income deemed to accrue or arise in India - residential status of the assessee under the India-USA DTAA. Assessee stayed in India for more than 183 days, considered a resident. Economic relationship, place of business, property administration, earning wages are important factors. Assessee has a private limited company in India involved in film distribution, attended board meetings, has operative bank accounts and mutual fund investments. In USA, assessee derives rental income, has bank accounts and investments, but no active involvement in earning wages or profits. Personal and economic relationships tilt more towards India. Assessee is a resident of India under Article 4(2)(a) of the Indo-US DTAA. All income derived in USA is chargeable to tax in India u/s 5 of the Income Tax Act. No tax credit available as no tax paid in USA. Dividend income, capital gains sourced in USA are taxable in India. Order of lower authorities confirmed, decided against assessee.
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