Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
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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