https://www.taxtmi.com/caselaws?id=307279 An appellate tax note explains that a claim for foreign tax credit on Singapore dividend income may be admitted where the material facts are already on record, with verification left to treaty provisions and law. It also states that section 14A disallowance for the relevant years could not be computed by Rule 8D, and had to be examined on a reasonable basis with recorded satisfaction. The note further discusses DEPB receipts in light of contractual pass-through and overriding title, treats annual electricity licence fee as revenue expenditure, and supports deduction of a refunded penalty liability in the year of receipt. en-us Fri, 30 Jan 2015 00:00:00 +0530 Mon, 03 Apr 2023 19:01:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307279 An appellate tax note explains that a claim for foreign tax credit on Singapore dividend income may be admitted where the material facts are already on record, with verification left to treaty provisions and law. It also states that section 14A disallowance for the relevant years could not be computed by Rule 8D, and had to be examined on a reasonable basis with recorded satisfaction. The note further discusses DEPB receipts in light of contractual pass-through and overriding title, treats annual electricity licence fee as revenue expenditure, and supports deduction of a refunded penalty liability in the year of receipt. Case-Laws Income Tax Fri, 30 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307279