Anti-profiteering obligations survive business demerger, complaint withdrawal, and customized supply arrangements where rate-reduction benefits are no...
Road restoration charges constitute taxable services when requested for commercial pipeline activity, requiring reverse-charge GST from the business r...
Interest on delayed release of requisitioned cash includes statutory pre-assessment interest and restitutionary compensation for unlawful post-assessm...
Incomplete inventory records justify rejecting accounts, while profit estimation requires relevant comparable material and interest falls under other ...
Transfer-pricing comparability requires functional alignment; delayed associated-enterprise receivables need separate LIBOR-based benchmarking, while ...
SC held that Section 44C applies to all "head office expenditure" of a non-resident, whether common or incurred exclusively for Indian branches, thereby subjecting such expenditure to the statutory ceiling. It rejected the restrictive construction excluding exclusive expenditure and disapproved the contrary view of the Bombay HC in Emirates Commercial Bank as not laying down the correct law. SC clarified that the statutory Explanation, read with the mischief rule, is broad and inclusive, and the term "attributable" does not create a common/exclusive dichotomy. The question of law was answered in favour of the Revenue, and the matters were remanded to ITAT for limited verification under the tripartite test.
SC held that Section 44C applies to all "head office expenditure" of a non-resident, whether common or incurred exclusively for Indian branches, thereby subjecting such expenditure to the statutory ceiling. It rejected the restrictive construction excluding exclusive expenditure and disapproved the contrary view of the Bombay HC in Emirates Commercial Bank as not laying down the correct law. SC clarified that the statutory Explanation, read with the mischief rule, is broad and inclusive, and the term "attributable" does not create a common/exclusive dichotomy. The question of law was answered in favour of the Revenue, and the matters were remanded to ITAT for limited verification under the tripartite test.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
