Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
The AAR held that a specialised steel CCV tower used in manufacturing insulated cables formed part of plant and machinery because the Explanation to section 17(5) includes apparatus, equipment and machinery fixed to earth by foundation or structural support, together with such foundation or support. On the applicant's process layout, the tower was an essential support system providing height, stability, alignment and operational integrity, so it was not a civil structure or immovable property for blocked-credit purposes. Accordingly, input tax credit on inputs and input services used to set up the tower was admissible and was not barred by section 17(5)(c) or section 17(5)(d).
The AAR held that a specialised steel CCV tower used in manufacturing insulated cables formed part of plant and machinery because the Explanation to section 17(5) includes apparatus, equipment and machinery fixed to earth by foundation or structural support, together with such foundation or support. On the applicant's process layout, the tower was an essential support system providing height, stability, alignment and operational integrity, so it was not a civil structure or immovable property for blocked-credit purposes. Accordingly, input tax credit on inputs and input services used to set up the tower was admissible and was not barred by section 17(5)(c) or section 17(5)(d).
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