Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
Commission paid to a non-resident agent for services rendered outside India was treated as not giving rise to income accruing or arising in India, so section 195 was held inapplicable and the related section 40(a)(i) disallowance could not stand. The Tribunal also sustained the deletion of disallowance on ocean freight paid to non-resident shipping lines or their agents, accepting that tax had already been deducted on payments to residents and that the balance freight was not liable for TDS in view of CBDT Circular No. 723. The Revenue produced no material to disturb the CIT(A)'s findings, so the appellate relief was affirmed.
Commission paid to a non-resident agent for services rendered outside India was treated as not giving rise to income accruing or arising in India, so section 195 was held inapplicable and the related section 40(a)(i) disallowance could not stand. The Tribunal also sustained the deletion of disallowance on ocean freight paid to non-resident shipping lines or their agents, accepting that tax had already been deducted on payments to residents and that the balance freight was not liable for TDS in view of CBDT Circular No. 723. The Revenue produced no material to disturb the CIT(A)'s findings, so the appellate relief was affirmed.
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