Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
Insurer's investment gains and investment write-downs face Section 263 revision; enquiry upheld, Rule 5(b)(ii) lapse sustained, late corrigendum quash...
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
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
