S. 80-IC : Unique category says – Special terms according from specific undertakings – Assessing Manager maybe not rationalized during the doubt deduction you/s 80IC out of freshly created unit merely on the foundation out of consumption of fuel in various equipment away from Assessee just like the numerous items is also subscribe the elevated winnings.

Held of the Large Courtroom you to definitely, there’s no reason to affect brand new conclusions of Appellate Regulators favoring Assessee, as the numerous issues normally donate to the elevated earnings and up on attention of these numerous affairs which were not merely pleaded, however, generated good-by new Assessee to summarize there are no good floor to deny the new deduction significantly less than Part 80IC out of the latest Operate merely on such basis as use of strength into the individuals products of the Assessee. (TA No. 62 out of 2014 and thirteen out of 2015 dt. 29-09-2020) (AY 2006-07 and AY 2007-08). CIT .v. Borkar Packaging (P.) Ltd. (2020) 121 taxmann 167 / 320 CTR 792 (Bom) (HC)

S. 90: Double income tax save – Assessee – Company becoming a tax citizen out of Singapore is approved into the benefits of Asia-Singapore taxation pact regarding product sales out-of shares when you look at the Indian subsidiary – LOB condition isn’t appropriate as a result purchases is pursuant so you can genuine organization restructuring and you may MNC’s craft to be a good investment carrying business is a great bonafide providers hobby – And therefore, no resource growth on sale off shares regarding Indian subsidiary by good Singapore holding money company.

S. 92C : Transfer rates – Arm’s duration speed – Attentive supplier – Depreciation –Transfer cost manager to help you exclude depreciation out of pricing and you can Comparables [S.32, R. 10B(1)(e)]

ING Vysaya Bank Ltd (2020) 422 ITR 116 (Karn) (HC) (AY

Dismissing the newest beauty of the new money the brand new Legal held one to since the the new assessee had an insurance plan regarding charging a higher level out of decline as compared to the organizations selected by Transfer Rates Officer, there is certainly a particular impact on the internet margins of one’s assessee as opposed to the equivalent companies. Discover a significance of an adjustment to eliminate the difference regarding accounting procedures of appellant therefore the equivalent people, with regards to rule 10B, especially given that regarding benchmarked worldwide transactions had been conversion of the a captive company in order to its relevant enterprises, on which decline might have no impact and may even end up being omitted entirely. Brand new advice given of the Tribunal towards Import Prices Officer in order to prohibit decline throughout the cost of new assessee and of new comparables and directing the latest Examining Officer/Import Costs Officer to help you rework the fresh depreciation wasn’t depraved.(AY.2010-11)

S. 115A: Overseas enterprises – Taxation – Royalty – More arrangements – This new assessee can be choose either be not as much as legal terms otherwise brand new Double tax protection agreement – DTAA-India-U . s . [S

Enabling this new beauty of this new assessee new Court kept your disallowance lower than part 14A of one’s Act was good notional disallowance which, of the recourse in order to section 14A of Work, the amount cannot be extra back once again to the ebook payouts below condition (f) from Cause step one so you’re able to section 115JB.(AY:2008-09)

The fresh new assessee, an altruistic believe, unknowingly posted Form zero. 10BB in the place of Means no. 10B, because of hence their claim to own exemption less than sections eleven and several are rejected. The application to have condonation regarding reduce filed towards Administrator is refused with respect to Rounded no. dos out of 2020 as period of slow down try over 365 months. Into processing a good writ petition, kept your period of 365 weeks prescribed beneath the Round could not getting kept as random. not, the assessee is actually absolve to method the fresh CBDT lower than part 119(2)(b) to find condonation from decelerate.