Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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The HC ruled that compounding fees/fines recovered from illegal miners and transporters under Section 23A of the MMDR Act are not subject to TCS under Section 206C(1C) of the IT Act. The court held that "royalty" and "compounding fee" are mutually exclusive terms, with royalty being payable by lawful mining lease holders under Section 9(1) of the MMDR Act, while compounding fees relate to settlement of illegal mining offences. The court emphasized that compounding under Section 23A has the effect of acquittal, similar to Section 320 of the CrPC. Since there is no legislative mandate to collect TCS on compounding fees, the ITAT's contrary decision was set aside, ruling in favour of the assessee.
The HC ruled that compounding fees/fines recovered from illegal miners and transporters under Section 23A of the MMDR Act are not subject to TCS under Section 206C(1C) of the IT Act. The court held that "royalty" and "compounding fee" are mutually exclusive terms, with royalty being payable by lawful mining lease holders under Section 9(1) of the MMDR Act, while compounding fees relate to settlement of illegal mining offences. The court emphasized that compounding under Section 23A has the effect of acquittal, similar to Section 320 of the CrPC. Since there is no legislative mandate to collect TCS on compounding fees, the ITAT's contrary decision was set aside, ruling in favour of the assessee.
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