Service permanent establishment requires non-auxiliary services, while arm's-length distributor remuneration precludes further profit attribution in I...
Make-available condition excludes standard SaaS subscription receipts where customers receive no independently usable technical knowledge after subscr...
Where the assessee consistently followed the exclusive method of accounting, GST, sales tax and service tax refunds not routed through the profit and loss account could not be taxed as remission of liability under section 41(1) or as business income under section 28(i); the Tribunal held that the precondition for such addition was not satisfied and deleted the refunds additions for both years. The Tribunal also held that the same margin on stock converted into capital assets, already offered in the return and included in business income, could not be added again at the processing stage under section 143(1), as this would amount to double taxation. Interest under sections 234B and 234C was treated as consequential and directed to be recomputed.
Where the assessee consistently followed the exclusive method of accounting, GST, sales tax and service tax refunds not routed through the profit and loss account could not be taxed as remission of liability under section 41(1) or as business income under section 28(i); the Tribunal held that the precondition for such addition was not satisfied and deleted the refunds additions for both years. The Tribunal also held that the same margin on stock converted into capital assets, already offered in the return and included in business income, could not be added again at the processing stage under section 143(1), as this would amount to double taxation. Interest under sections 234B and 234C was treated as consequential and directed to be recomputed.
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