Retrospective application of beneficial circulars upheld, binding officers and granting post adjudication relief where adjudication occurred after cir...
Admissibility of Investigation Statements requires witness examination before the adjudicating authority; otherwise statements cannot sustain a penalt...
Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
Composite supply of drilling services and site specific chemicals characterised as composite supply; prior advance rulings set aside, tax rate left op...
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A pension fund is specified as a "specified person" for purposes of section 10(23FE) in respect of eligible investments made in India from the notification's publication date up to 31 March 2030, subject to compliance with prescribed conditions. The conditions require timely filing of income-tax returns for all relevant previous years until liquidation of the investment, quarterly reporting of investment details in Form 10BBB, furnishing an accountant's certificate in Form 10BBC, maintaining segmented accounts for exempt investment income and expenditure, continued foreign regulatory status, and limiting activities and asset use to qualifying retirement-type purposes, including prohibitions on borrowings for Indian investments and on day-to-day operational participation in investees. Breach of any condition renders the fund ineligible for the exemption.
A pension fund is specified as a "specified person" for purposes of section 10(23FE) in respect of eligible investments made in India from the notification's publication date up to 31 March 2030, subject to compliance with prescribed conditions. The conditions require timely filing of income-tax returns for all relevant previous years until liquidation of the investment, quarterly reporting of investment details in Form 10BBB, furnishing an accountant's certificate in Form 10BBC, maintaining segmented accounts for exempt investment income and expenditure, continued foreign regulatory status, and limiting activities and asset use to qualifying retirement-type purposes, including prohibitions on borrowings for Indian investments and on day-to-day operational participation in investees. Breach of any condition renders the fund ineligible for the exemption.
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