Reversal of input tax credit in proportion to exempt supply: specificity of show-cause notice required; order set aside, fresh proceedings allowed wit...
Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
Territorial nexus limits taxation of a non-resident's foreign bank deposits: amounts held abroad are taxable in India only if received or deemed received in India, or if they accrue/arise or are deemed to accrue/arise in India; Sections 5(2) and 9 cannot be stretched to tax sums outside India. The Revenue bore the burden to prove Indian sourcing of deposits and failed to discharge that onus (ei qui affirmat incumbit probatio), so additions could not be sustained. Re taxing income already subjected to tax in other hands or years is impermissible, supporting deletion of the addition and dismissal of the appeal.
Territorial nexus limits taxation of a non-resident's foreign bank deposits: amounts held abroad are taxable in India only if received or deemed received in India, or if they accrue/arise or are deemed to accrue/arise in India; Sections 5(2) and 9 cannot be stretched to tax sums outside India. The Revenue bore the burden to prove Indian sourcing of deposits and failed to discharge that onus (ei qui affirmat incumbit probatio), so additions could not be sustained. Re taxing income already subjected to tax in other hands or years is impermissible, supporting deletion of the addition and dismissal of the appeal.
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