Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
Dividend distribution tax paid on dividends distributed to non-resident shareholders was treated as falling within the more beneficial treaty rate under the India-Japan and India-Thailand DTAA, because the tax was viewed in substance as a tax on dividend income of the shareholder. Following binding precedent, the ITAT accepted the assessee's challenge to the higher domestic rate for AY 2017-18 and applied the same view to AY 2018-19. It also held that corporate club membership fees were allowable business expenditure under section 37 and not personal expenditure, as the membership served business purposes and the Revenue's authorities were distinguishable. Both appeals were allowed.
Dividend distribution tax paid on dividends distributed to non-resident shareholders was treated as falling within the more beneficial treaty rate under the India-Japan and India-Thailand DTAA, because the tax was viewed in substance as a tax on dividend income of the shareholder. Following binding precedent, the ITAT accepted the assessee's challenge to the higher domestic rate for AY 2017-18 and applied the same view to AY 2018-19. It also held that corporate club membership fees were allowable business expenditure under section 37 and not personal expenditure, as the membership served business purposes and the Revenue's authorities were distinguishable. Both appeals were allowed.
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