Cash routed to non-existent firm deemed proceeds of crime; laundered funds and properties attachable, provisional attachments confirmed; two accounts ...
Continuation of Section 73 service-tax proceedings after provider's death (construing s.65(7)) - held to abate; posthumous OIO and recoveries invalida...
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.
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