S. 80-IC : Special group states – Unique specifications in respect off particular undertakings – Evaluating Officer not justified when you look at the doubt deduction you/s 80IC out-of newly established product only toward base regarding consumption off strength in various units from Assessee since multiple things is also subscribe to the elevated profits.
Held by Large Courtroom you to definitely, there can be you should not affect new conclusions from Appellate Bodies favoring Assessee, as numerous factors normally join the increased earnings and you can through to idea of these several points that happen to be not simply pleaded, but produced good by the brand new Assessee to close out there are no-good soil in order to reject the fresh new deduction less than Section 80IC out-of new Operate merely based on consumption of electricity in the various products of your own Assessee. (TA No. 62 out-of 2014 and you may thirteen off 2015 dt. 29-09-2020) (AY 2006-07 and you can AY 2007-08). CIT .v. Borkar Packing (P.) Ltd. (2020) 121 taxmann 167 / 320 CTR 792 (Bom) (HC)
S. 90: Double tax recovery – Assessee – Business getting an income tax citizen from Singapore is eligible towards the benefits associated with India-Singapore tax pact with regards to purchases regarding shares inside the Indian part – LOB condition is not applicable therefore product sales are pursuant to genuine team reorganizing and you can MNC’s craft of being a good investment holding organization is a bonafide team hobby – Hence, no financing growth available for sale from shares away from Indian subsidiary of the a good Singapore holding financing organization.
S. 92C : Import costs – Arm’s size rate – Attentive carrier – Decline –Transfer rates manager in order to exclude decline regarding cost and Comparables [S.thirty-two, R. 10B(1)(e)]
ING Vysaya Bank Ltd (2020) 422 ITR 116 (Karn) (HC) (AY
Dismissing the fresh attractiveness of new cash the latest Judge stored you to definitely because the newest assessee got an insurance policy of battery charging a higher rate from depreciation as opposed to the people chosen by Import Costs Manager, there can be one influence on the internet margins of one’s assessee as opposed to the comparable businesses. There can be an incredible importance of a modifications to get rid of the difference throughout the accounting regulations of the appellant therefore the similar companies, with respect to laws 10B, specifically once the regarding the benchmarked globally transactions was indeed sales of the a captive supplier so you can its relevant companies, on what depreciation will have zero impact and might be omitted entirely. The fresh new recommendations awarded by Tribunal towards Import Prices Manager so you can prohibit decline on the price of new assessee as well as the latest comparables and you can directing new Assessing Officer/Transfer Costs Officer so you can rework the newest depreciation was not perverse.(AY.2010-11)
S. 115A: Foreign companies – Income tax – Royalty – Some other agreements – The new assessee normally choose either be under legal terms otherwise the new Double tax avoidance arrangement – DTAA-India-Usa [S
Enabling the new appeal of the fresh assessee the newest Judge kept that disallowance under part 14A of your own Act was an excellent notional disallowance and this, of the recourse to part 14A of the Operate, the total amount cannot be extra back to the publication payouts significantly less than condition (f) out-of Need 1 in order to point 115JB.(AY:2008-09)
This new assessee, an altruistic believe, unwittingly posted Form zero. 10BB in place of Setting no 321chat sorun. 10B, as a result of and this its allege getting exclusion less than areas eleven and you may twelve are denied. Its software to possess condonation away from impede submitted into Administrator are refuted with regards to Round zero. 2 regarding 2020 while the age of impede is over 365 months. Towards submitting an effective writ petition, held your age 365 days prescribed beneath the Round couldn’t feel stored are arbitrary. Yet not, the fresh assessee was liberated to strategy new CBDT below part 119(2)(b) to get condonation regarding slow down.