Assessee gets refund interest until actual payment as AO cannot unilaterally decide on exclusions Issue Whether an assessee is entitled to interest under Section 244A up to the actual date of payment when delays arise from subsequent bank account validation errors, and whether the Assessing Officer (AO) has the jurisdiction to unilaterally exclude any delay… Read More »
Section 80G and 80JJAA Deductions Allowed; Platform Enhancement and Delayed Form 67 Procedural Defect Resolved Issue Whether a deduction under Section 80G can be denied solely because the underlying donation forms a part of the company’s mandatory Corporate Social Responsibility (CSR) expenditure. Whether a legitimate claim for Foreign Tax Credit (FTC) can be rejected purely… Read More »
No Disallowance Under Section 40(a)(i) if Technical Services Are Not Made Available to the Assessee Issues Whether payments to US non-resident contractors for software services are taxable as “Fees for Included Services” under the India-USA DTAA if the “make available” condition is not satisfied. Whether payments to a UK entity for a website access license… Read More »
Refund Adjustments Violating Prior Intimation Rules Cannot Exceed Twenty Percent Limit of Disputed Demands Issue Whether the Revenue is legally permitted to adjust subsequent years’ tax refunds against a outstanding disputed demand under Section 245 without issuing prior intimation, and whether an assessee is entitled to a full refund and interest on amounts adjusted in… Read More »
Reassessment Based on Scientific Warranty Provisions and Disclosed Security Deposit Forfeitures Is Quashed Reassessment Based on Scientific Warranty Provisions and Disclosed Security Deposit Forfeitures Is Quashed Issue Whether the Assessing Officer is legally justified in initiating reassessment proceedings under Section 147/148 based on a change of opinion regarding a scientifically calculated provision for warranty and… Read More »
A co-operative credit society is entitled to a deduction on interest earned from depositing its operational surplus funds in banks. Issue Whether a co-operative credit society can claim a statutory tax deduction under Section 80P(2)(a) on interest income earned from parking its operational surplus funds in bank deposits, or if such interest is disallowable because… Read More »
Reassessment notice is quashed as changing depreciation rates on fully exempt income causes no tax escapement. Reassessment notice is quashed as changing depreciation rates on fully exempt income causes no tax escapement. Issue Whether the tax department can validly initiate reassessment proceedings under Section 147/148 to adjust depreciation rates when the underlying business profit is… Read More »
Delayed EPF and ESI contributions cannot be disallowed under section 143(1)(a) when the issue is highly debatable. Issue Whether the Assessing Officer is legally justified in making a prima facie disallowance of delayed employees’ EPF and ESI contributions under Section 143(1)(a) when the underlying legal issue was highly debatable and subject to divergent High Court… Read More »
Manual filing of Form 10 does not justify reassessment if already examined during scrutiny. Issue Whether the Revenue department can validly initiate reassessment proceedings under Section 148 to disallow income accumulation solely because Form 10 was filed manually instead of electronically, in a case where the Assessing Officer had already thoroughly examined and accepted the… Read More »
Tax disputes decided in favor of the assessee-bank based on binding precedents and legal provisions. Issue Whether the various additions and disallowances made by the Assessing Officer—concerning bad debt provisions under section 36(1)(viia), unrealized foreign exchange gains, Corporate Social Responsibility (CSR) expenditure, depreciation rates on ATMs (60%) and leased assets, section 14A disallowances, investment depreciation… Read More »