Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
An assessee-company's residential status for tax purposes had to be determined on the factual and legal basis for locating its place of effective management, not on the institutional status of the authority that earlier considered the matter. The Tribunal found that the material showing effective control was not exercised abroad had merit, and that the Assessing Officer had not rebutted the factual foundation relied on to place POEM in India. As the first appellate authority accepted that the collegium's basis lacked merit, it could not sustain the assessment merely because it was reluctant to differ from that collegium. The POEM finding in India was therefore unsustainable, and the global income addition was deleted.
An assessee-company's residential status for tax purposes had to be determined on the factual and legal basis for locating its place of effective management, not on the institutional status of the authority that earlier considered the matter. The Tribunal found that the material showing effective control was not exercised abroad had merit, and that the Assessing Officer had not rebutted the factual foundation relied on to place POEM in India. As the first appellate authority accepted that the collegium's basis lacked merit, it could not sustain the assessment merely because it was reluctant to differ from that collegium. The POEM finding in India was therefore unsustainable, and the global income addition was deleted.
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