Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
Mandatory statutory transfers of funds to the Central Government under section 23(2) of the Exim Act were treated as not constituting dividend, so section 115-O dividend distribution tax did not apply. The Tribunal followed its coordinate bench decision in the assessee's own later years, noted that the Revenue showed no change in facts or law, and upheld deletion of the tax demand. The Revenue's appeals for all years were dismissed.
Mandatory statutory transfers of funds to the Central Government under section 23(2) of the Exim Act were treated as not constituting dividend, so section 115-O dividend distribution tax did not apply. The Tribunal followed its coordinate bench decision in the assessee's own later years, noted that the Revenue showed no change in facts or law, and upheld deletion of the tax demand. The Revenue's appeals for all years were dismissed.
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