https://www.taxtmi.com/caselaws?id=291562 The High Court upheld the Tribunal's decision in a tax case involving the taxability of income earned through advertisement sales by a subsidiary company. The Court ruled that the subsidiary company's income was already taxed separately and there was no basis to tax it again in the hands of the main assessee. Additionally, the Court allowed nonresident companies to choose their accounting method and dismissed issues related to the chargeability of interest under Sections 234A and 234C. The appeal by the revenue was dismissed, and no costs were awarded. en-us Tue, 16 Jun 2015 00:00:00 +0530 Tue, 17 Nov 2020 17:06:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291562 The High Court upheld the Tribunal's decision in a tax case involving the taxability of income earned through advertisement sales by a subsidiary company. The Court ruled that the subsidiary company's income was already taxed separately and there was no basis to tax it again in the hands of the main assessee. Additionally, the Court allowed nonresident companies to choose their accounting method and dismissed issues related to the chargeability of interest under Sections 234A and 234C. The appeal by the revenue was dismissed, and no costs were awarded. Case-Laws Income Tax Tue, 16 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291562