S. 80-IC : Special category says – Unique provisions in respect out-of particular endeavors – Assessing Administrator not rationalized in doubt deduction you/s 80IC from newly oriented equipment simply towards base of application from energy in almost any products out of Assessee as the multiple issues normally contribute to the elevated profits.

Stored by Highest Legal you to definitely, there’s need not interfere with the fresh results regarding Appellate Regulators favoring Assessee, because several circumstances can also be subscribe to the elevated earnings and you can through to believe of such numerous items which have been not just pleaded, however, generated good by the Assessee to close out that there try no-good surface so you’re able to reject the newest deduction under Point 80IC away from the fresh new Operate just on the basis of consumption of electricity within the individuals tools of your Assessee. (TA No. 62 away from 2014 and 13 off 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: Twice income tax relief – Assessee – Business being a taxation citizen off Singapore is eligible toward great things about India-Singapore taxation pact when it comes to selling away from shares inside Indian part – LOB clause isn’t appropriate therefore sale is pursuant in order to genuine team restructuring and you will MNC’s craft to be a financial investment carrying company is a great bonafide company pastime – And that, no investment growth available out-of shares of Indian part of the a great Singapore carrying financial support business.

S. 92C : Import cost – Arm’s size rate – Attentive provider – Depreciation –Transfer costs administrator to prohibit depreciation off cost and you will Comparables [S.thirty-two, R. 10B(1)(e)]

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

Dismissing the fresh beauty of the fresh new revenue brand new Courtroom kept one as the new assessee got an insurance policy from charging you a higher rate of decline as compared to the organizations selected of the Import Costs Officer, there is certainly a definite impact on the web margins of your own assessee as opposed to the comparable people. There’s a need for a modification to stop the distinctions on accounting guidelines of your own appellant plus the similar people, with regards to rule 10B, especially as the on benchmarked worldwide transactions had been conversion process by a captive supplier so you can their associated businesses, on what depreciation will have zero bearing that can end up being omitted entirely. The latest recommendations issued by the Tribunal into Transfer Cost Manager to prohibit decline about cost of the assessee as well as the comparables and you can pointing the fresh new Assessing Manager/Import Costs Administrator so you’re able to rework the latest depreciation wasn’t depraved.(AY.2010-11)

S. 115A: Foreign organizations – Taxation – Royalty – Other plans – The brand new assessee is decide to be around statutory specifications otherwise this new Twice income tax prevention agreement – DTAA-India-Us [S

Enabling brand new attractiveness of this new assessee the Legal stored the disallowance below part 14A of one’s Act is actually a great notional disallowance hence, because of the recourse so you’re able to area 14A of Operate, wellhello the total amount can not be extra back into the ebook profits under condition (f) away from Reason step one so you’re able to area 115JB.(AY:2008-09)

This new assessee, a charitable believe, inadvertently uploaded Setting no. 10BB in the place of Form zero. 10B, as a consequence of and therefore their claim to possess exception to this rule under sections eleven and you can 12 was refuted. Its app to have condonation of reduce registered for the Commissioner is actually rejected with respect to Rounded no. dos off 2020 once the ages of impede are more 365 months. To your submitting a beneficial writ petition, stored your ages of 365 days given according to the Rounded cannot getting kept become arbitrary. not, brand new assessee are liberated to strategy the latest CBDT less than area 119(2)(b) to look for condonation away from decelerate.