Tribunal rules in favor of foreign bank PE on key tax and transfer pricing issues. Issues Section 44C vs. Section 37(1) Disallowance: Whether direct head office/overseas branch (HO/OB) expenses incurred on behalf of the Indian Permanent Establishment (PE) are subject to restriction under Section 44C or are fully allowable under Section 37(1). Taxability of Branch-to-HO… Read More »
AO Cannot Demand Negative Evidence of Non-Filing Appeal to Deny Section 270AA Immunity Issue Whether the Assessing Officer can demand “negative evidence” of non-filing of an appeal as a condition to grant immunity from penalty and prosecution under Section 270AA. Whether an order rejecting immunity under Section 270AA passed without considering the assessee’s reply is… Read More »
No Satisfaction Recorded for Section 14A and Arbitrary Pro-Rata Royalty Expenditure Allocation Remanded Issue Whether an additional disallowance under Section 14A read with Rule 8D can be made without the Assessing Officer recording objective dissatisfaction regarding the correctness of the assessee’s suo motu disallowance. Whether Section 115BBF(2) permits a blanket disallowance of general business expenditure… Read More »
Reassessment Order and Notice Quashed as Sanction Was Granted Mechanically Without Considering Assessee’s Response Issue Whether an order under Section 148A(d) and the consequent reassessment notice under Section 148 are legally sustainable when sanction under Section 151 is granted mechanically without considering the reply filed by the assessee to the notice issued under Section 148A(b).… Read More »
Reassessment / TDS Credit Denial for Un-deposited Salary Tax Deductions Is Unjustified and Credit Must Be Granted to Employee Reassessment / TDS Credit Denial for Un-deposited Salary Tax Deductions Is Unjustified and Credit Must Be Granted to Employee Issue Whether an employee can be denied credit for Tax Deducted at Source (TDS) and issued a… Read More »
Reopening of assessment under Section 148A regarding alleged bogus insurance commissions cannot be interfered with in writ proceedings Reopening of assessment under Section 148A regarding alleged bogus insurance commissions cannot be interfered with in writ proceedings Issue Whether an order passed under Section 148A(3) and a consequential notice issued under Section 148, based on information… Read More »
Vested Right to Refund with Interest Based on ‘Give Effect’ Orders Cannot Be Denied on Technical Grounds Issue Whether the Revenue can withhold a refund and interest under Section 244A arising out of valid ‘give effect’ orders passed by appellate/competent authorities on technical grounds such as non-specification of financial years, without demonstrating any valid adjustment… Read More »
Reassessment Order Passed Solely for In-Depth Scrutiny Without Finding Income Escapement Is Invalid Reassessment Order Passed Solely for In-Depth Scrutiny Without Finding Income Escapement Is Invalid Issue Whether an order under Section 148A(3) and consequential notice under Section 148 are valid when the Assessing Officer proceeds solely on the premise that voluminous transactions require in-depth… Read More »
Reopening of assessment beyond four years under Section 148 is invalid without failure by assessee to disclose all material facts. Issue Whether an assessment completed under Section 143(3) can be reopened after the expiry of four years under Section 148 when there is no allegation or finding that the assessee failed to fully and truly… Read More »
Reassessment notice under Section 148 for alleged bogus insurance commissions requires factual examination by AO, not writ court. Reassessment notice under Section 148 for alleged bogus insurance commissions requires factual examination by AO, not writ court. Issue Whether the High Court should interfere in a writ petition against an order under Section 148A(3) and a… Read More »