Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
The non-resident assessee company offered income on a presumptive basis u/s 44BB at 10% of gross receipts from a project office in India. The Assessing Officer accepted the returned income. Section 44BB, with its non-obstante clause, excludes the application of Sections 28 to 41 and Sections 43 and 43A, including Section 40(a)(i), for computing income from the business of exploration of mineral oils. The transactions were between two non-residents outside India. Following the Supreme Court's decision in CIT vs. Vantage International Management Co, service tax/GST receipts should not be included in the aggregate amounts u/s 44BB(2) since they are not received for services provided in prospecting, extraction or production of mineral oils. Consequently, the disallowance u/s 40(a)(i) was deleted, and the matter was decided in favor of the assessee.
The non-resident assessee company offered income on a presumptive basis u/s 44BB at 10% of gross receipts from a project office in India. The Assessing Officer accepted the returned income. Section 44BB, with its non-obstante clause, excludes the application of Sections 28 to 41 and Sections 43 and 43A, including Section 40(a)(i), for computing income from the business of exploration of mineral oils. The transactions were between two non-residents outside India. Following the Supreme Court's decision in CIT vs. Vantage International Management Co, service tax/GST receipts should not be included in the aggregate amounts u/s 44BB(2) since they are not received for services provided in prospecting, extraction or production of mineral oils. Consequently, the disallowance u/s 40(a)(i) was deleted, and the matter was decided in favor of the assessee.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
