Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
Transfer of passive infrastructure assets pursuant to a court-approved demerger was held to constitute a "gift" covered by section 47(iii) and therefore not a "transfer" under section 2(47), negating the Revenue's case for depreciation-related disallowance; the Revenue's ground was dismissed. Network site rentals disallowed as excessive under section 40A(2)(b) were restored for de novo examination due to lack of factual inquiry into cost/value basis; remand ordered. Disallowance under section 14A was deleted as no exempt income was earned. Roaming charge disallowance under sections 40(a)(ia)/40(a)(i) for alleged TDS default was deleted, following binding precedent. Trade discounts on prepaid distribution were held outside section 194H; disallowance deleted. Multiple section 80IA claims (including SFIS income and allied receipts) were allowed applying section 80IA(2A), while variable license fee treatment was directed to be recomputed on amortisation after verification. Book profit under section 115JB was to be computed without importing Rule 8D. - ITAT
Transfer of passive infrastructure assets pursuant to a court-approved demerger was held to constitute a "gift" covered by section 47(iii) and therefore not a "transfer" under section 2(47), negating the Revenue's case for depreciation-related disallowance; the Revenue's ground was dismissed. Network site rentals disallowed as excessive under section 40A(2)(b) were restored for de novo examination due to lack of factual inquiry into cost/value basis; remand ordered. Disallowance under section 14A was deleted as no exempt income was earned. Roaming charge disallowance under sections 40(a)(ia)/40(a)(i) for alleged TDS default was deleted, following binding precedent. Trade discounts on prepaid distribution were held outside section 194H; disallowance deleted. Multiple section 80IA claims (including SFIS income and allied receipts) were allowed applying section 80IA(2A), while variable license fee treatment was directed to be recomputed on amortisation after verification. Book profit under section 115JB was to be computed without importing Rule 8D. - ITAT
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