S. 80-IC : Special category states – Special provisions according out-of particular endeavors – Evaluating Officer not warranted inside denying deduction u/s 80IC off newly situated product only into the basis of practices out-of energy in different systems off Assessee because the multiple activities normally donate to the increased payouts.

Kept because of the Higher Court you to definitely, there clearly was no reason to interfere with brand new findings out of Appellate Regulators favoring Assessee, since multiple situations can be sign up to the increased winnings and you may abreast of planning of such several activities that have been not merely pleaded, however, generated good by this new Assessee in conclusion there is no-good floor to help you refute the latest deduction below Part 80IC from the Operate only based on usage of electricity during the certain products of your own Assessee. (TA Zero. 62 away from 2014 and thirteen from 2015 dt. 29-09-2020) (AY 2006-07 and you may AY 2007-08). CIT .v. Borkar Packing (P.) Ltd. (2020) 121 taxmann 167 / loveagain mobile site 320 CTR 792 (Bom) (HC)

S. 90: Double taxation recovery – Assessee – Organization are a taxation resident off Singapore is approved into advantages of India-Singapore taxation pact with regards to profit out-of offers inside Indian part – LOB term is not appropriate as a result selling was pursuant so you’re able to genuine team reorganizing and you can MNC’s passion to be a financial investment holding business is a great bonafide team hobby – And this, no capital progress discounted regarding shares regarding Indian part because of the an excellent Singapore holding resource providers.

S. 92C : Import cost – Arm’s length rates – Attentive supplier – Decline –Transfer pricing administrator so you’re able to prohibit decline of rates and you can Comparables [S.32, Roentgen. 10B(1)(e)]

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

Dismissing the latest appeal of the newest revenue the newest Court held that once the brand new assessee had a policy off asking a higher level off depreciation when compared to the enterprises picked from the Import Pricing Manager, discover a particular impact on the web based margins of your own assessee as compared to the equivalent people. You will find an incredible importance of a change to stop the distinctions on bookkeeping principles of your appellant plus the equivalent organizations, with regards to laws 10B, particularly because about benchmarked in the world purchases was in fact conversion process from the an attentive supplier so you’re able to the related enterprises, on what decline would have zero impact and could feel omitted entirely. Brand new guidelines provided because of the Tribunal into the Import Costs Administrator to ban decline in the price of brand new assessee as well as the latest comparables and you can directing brand new Determining Officer/Import Pricing Manager to rework the new depreciation wasn’t depraved.(AY.2010-11)

S. 115A: International businesses – Income tax – Royalty – Some other plans – Brand new assessee normally choose be either lower than statutory conditions or the latest Double taxation reduction arrangement – DTAA-India-United states [S

Enabling the fresh new beauty of the new assessee brand new Court kept your disallowance significantly less than section 14A of your Work is a good notional disallowance which, of the recourse so you’re able to point 14A of your own Act, extent cannot be additional returning to the book earnings below condition (f) off Explanation step 1 in order to part 115JB.(AY:2008-09)

The new assessee, a non-profit faith, inadvertently posted Mode no. 10BB instead of Mode no. 10B, compliment of which the allege to possess difference not as much as parts 11 and a dozen is rejected. The application to have condonation away from reduce submitted on the Administrator is refused regarding Round no. 2 away from 2020 just like the ages of decrease was more 365 days. On submitting a great writ petition, kept that the ages of 365 days recommended beneath the Game could not feel held to get random. But not, this new assessee are able to means the fresh new CBDT not as much as point 119(2)(b) to seek condonation from decelerate.