Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
Rejection of an application for a withholding tax certificate resulted in the High Court holding that the Competent Authority acted arbitrarily by issuing a certificate at 15% despite existing binding precedent favouring nil withholding; the authority cannot depart from the court's settled view unless factual differences or new information justify a contrary conclusion. The court criticised delay in deciding the Section 197 application beyond the statutory period, observed that such delay frustrates the statutory purpose of preserving cash flow and avoiding interest on refunds, set aside the impugned order and directed issuance of a nil-rate certificate within 15 days.
Rejection of an application for a withholding tax certificate resulted in the High Court holding that the Competent Authority acted arbitrarily by issuing a certificate at 15% despite existing binding precedent favouring nil withholding; the authority cannot depart from the court's settled view unless factual differences or new information justify a contrary conclusion. The court criticised delay in deciding the Section 197 application beyond the statutory period, observed that such delay frustrates the statutory purpose of preserving cash flow and avoiding interest on refunds, set aside the impugned order and directed issuance of a nil-rate certificate within 15 days.
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