Dependent Agent PE unresolved for lack of factual inquiry; arm's-length distribution accepted; royalty claim rejected; 15% refund interest (Section 24...
Exemption under s.10(23C)(iiiad) upheld; appeal allowed, interest and dividends excluded from annual receipts, disallowance deleted, capital gains exe...
AAAR affirmed the appellate authority's determination and dismissed the departmental appeal, holding that input tax credit (ITC) on capital goods comprising wires, cables and electrical equipment used to connect the DISCOM power supply to the respondent's factory is admissible. The Authority found no legally tenable ground in the Revenue's challenge that such items are excluded as 'plant and machinery' under section 17(5) or that section 18(6) procedures were infringed; the Revenue's contention of subsequent transfer to the transmission utility was unsubstantiated. In light of Board clarifications treating analogous infrastructure items as eligible, the GAAR findings were upheld and the appeal by the Assistant Commissioner was rejected.
AAAR affirmed the appellate authority's determination and dismissed the departmental appeal, holding that input tax credit (ITC) on capital goods comprising wires, cables and electrical equipment used to connect the DISCOM power supply to the respondent's factory is admissible. The Authority found no legally tenable ground in the Revenue's challenge that such items are excluded as 'plant and machinery' under section 17(5) or that section 18(6) procedures were infringed; the Revenue's contention of subsequent transfer to the transmission utility was unsubstantiated. In light of Board clarifications treating analogous infrastructure items as eligible, the GAAR findings were upheld and the appeal by the Assistant Commissioner was rejected.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
