Capital-gains exemption for charitable trusts extends to qualifying fixed deposits, while unrecoverable TDS write-offs may constitute income applicati...
India-UK treaty characterisation of telecom-service receipts as business profits withstands unilateral domestic-law amendments for Indian tax purposes...
Transfer-pricing reimbursement adjustments require uncontrolled comparables and cannot become expense-genuineness reviews, resulting in deletion of th...
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The CESTAT allowed exemption for paints applied on wind mills, considering them an integral part of the wind operated electricity generator, covered under the exemption notification. It rejected the argument that paint is merely an external coating and not a component or part. The Tribunal reasoned that paint acts like skin, essential for protection and integral to the product. Disallowing exemption for paint would be akin to removing skin from a living being. The Tribunal distinguished the Bombay High Court order cited by the Department, stating its limited writ jurisdiction is different from the appellate jurisdiction of CESTAT. The Commissioner's order denying exemption was set aside.
The CESTAT allowed exemption for paints applied on wind mills, considering them an integral part of the wind operated electricity generator, covered under the exemption notification. It rejected the argument that paint is merely an external coating and not a component or part. The Tribunal reasoned that paint acts like skin, essential for protection and integral to the product. Disallowing exemption for paint would be akin to removing skin from a living being. The Tribunal distinguished the Bombay High Court order cited by the Department, stating its limited writ jurisdiction is different from the appellate jurisdiction of CESTAT. The Commissioner's order denying exemption was set aside.
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