International transaction characterisation of domestic divestment of support services business rejected; transaction between resident associated enter...
Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Classification of exported insecticides under export tariff affirmed; reclassification and related penalties set aside and MEIS scrip jurisdiction rec...
Variable licence fee paid to the telecom regulator under the 1999 policy was held to be capital expenditure because it is consideration for acquiring/retaining the licence, and must be amortized under s.35ABB; the appellate relief treating it as revenue was reversed to that extent and the revenue's ground was partly allowed. Spectrum usage charges were distinguished as not covered by the SC ruling and, consistent with the assessment approach in another year, were treated as revenue expenditure deductible under s.37(1); the revenue's challenge on this aspect was dismissed. Subscriber verification penalty for KYC violations was held not hit by Explanation 1 to s.37(1) and remained allowable. Discounts on prepaid instruments were held outside s.194H, so disallowance under s.40(a)(ia) was deleted, with consequential direction to recompute s.80-IA deduction. - ITAT
Variable licence fee paid to the telecom regulator under the 1999 policy was held to be capital expenditure because it is consideration for acquiring/retaining the licence, and must be amortized under s.35ABB; the appellate relief treating it as revenue was reversed to that extent and the revenue's ground was partly allowed. Spectrum usage charges were distinguished as not covered by the SC ruling and, consistent with the assessment approach in another year, were treated as revenue expenditure deductible under s.37(1); the revenue's challenge on this aspect was dismissed. Subscriber verification penalty for KYC violations was held not hit by Explanation 1 to s.37(1) and remained allowable. Discounts on prepaid instruments were held outside s.194H, so disallowance under s.40(a)(ia) was deleted, with consequential direction to recompute s.80-IA deduction. - ITAT
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