S. 80-IC : Special category states – Unique specifications in respect from certain endeavors – Determining Manager perhaps not warranted inside the doubting deduction you/s 80IC of newly based unit only into the base regarding usage off stamina in various products away from Assessee while the numerous situations is subscribe to the increased earnings.

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Held by Higher Courtroom you to, there is need not affect the fresh conclusions out-of Appellate Bodies favoring Assessee, once the multiple issues can also be join the elevated earnings and you will through to attention of such several circumstances which were besides pleaded, but produced good-by the fresh Assessee to conclude there was no-good soil to help you refuse the deduction under Point 80IC out-of new Operate only based on use of energy within the certain devices of the Assessee. (TA No. 62 regarding 2014 and 13 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 taxation rescue – Assessee – Organization becoming a taxation resident out of Singapore is eligible with the advantages of Asia-Singapore tax pact when it comes to income out-of offers inside the Indian part – LOB clause isn’t relevant as a result profit are pursuant in order to genuine providers reorganizing and you may MNC’s hobby to be a financial investment carrying organization is a bonafide organization pastime – Which, no money progress available of offers regarding Indian part of the a great Singapore holding financing business.

S. 92C : Import costs – Arm’s duration speed – Attentive company – Decline –Transfer pricing administrator so you’re able to ban decline from cost and you will Comparables [S.32, R. 10B(1)(e)]

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

Dismissing this new appeal of the latest revenue new Court held you to definitely as the the new assessee got an insurance plan from charging you a higher level of decline as opposed to the businesses chose of the Transfer Rates Administrator, you will find a particular influence on the online margins of the assessee as compared to the comparable organizations. There is a need for a modification to avoid the difference regarding the bookkeeping policies of your own appellant as well as the similar enterprises, in terms of signal 10B, especially due to the fact throughout the benchmarked all over the world deals have been conversion because of the an attentive carrier to its related companies, on which decline will have zero bearing that will getting omitted entirely. The fresh guidelines granted because of the Tribunal into the Import Rates Administrator so you can ban depreciation throughout the price of the newest assessee as well as the newest comparables and you may pointing the Determining Manager/Import Costs Administrator to rework the newest decline wasn’t depraved.(AY.2010-11)

S. 115A: Overseas enterprises – Taxation – Royalty – Other agreements – The fresh assessee can choose either be around statutory arrangements otherwise the brand new Double tax reduction arrangement – DTAA-India-Us [S

Enabling this new appeal of brand new assessee brand new Legal kept that the disallowance not as much as point 14A of Act is actually an excellent notional disallowance which, because of the recourse to help you part 14A of your own Act, extent can’t be additional returning to the ebook earnings significantly less than term (f) out of Explanation 1 so you’re able to part 115JB.(AY:2008-09)

The brand new assessee, a charitable trust, unknowingly uploaded Form no. 10BB unlike Mode no. 10B, courtesy which the claim to own exception to this rule significantly less than areas eleven and you may 12 are denied. Its application to possess condonation from delay registered on the Commissioner is denied with regards to Round no. dos away from 2020 given that age of decrease are more 365 days. Towards filing an effective writ petition, held the ages of 365 weeks given beneath the Round couldn’t become kept to get arbitrary. Although not, the fresh assessee is actually able to means the CBDT around section 119(2)(b) to find condonation out-of decrease.