Explains when Form 10F becomes mandatory for claiming DTAA benefits and what information must be furnished under Indian tax law. The key takeaway is that Form 10F complements the TRC and is critical for applying lower withholding tax on foreign remittances.
Explains how GST applies to solar power projects executed under turnkey contracts and why the 70:30 deemed valuation is mandatory.
GSTN has clarified key issues on filing annual returns through consolidated FAQs. The guidance explains ITC reporting, auto-population rules, and late fee computation to ensure accurate compliance.
ITAT Delhi held that additions under Section 69C cannot be made if the AO exceeds the scope of directions issued under Section 263, emphasizing procedural compliance.
The ITAT condoned a two-day delay caused by OTP and system issues, noting the Revenue’s failure to rebut the explanation. The ruling affirms a pragmatic approach to minor procedural lapses.
The tribunal held that every oil well constitutes an independent undertaking eligible for deduction under section 80IB(9). The key takeaway is that profits of individual wells cannot be clubbed merely because they operate under a single contract.
The appeal was dismissed as no documentary evidence of internal auditor appointment was produced. The key takeaway is that statutory claims must be backed by records.
The ROC imposed penalties for non-registration of a secured loan charge despite disclosure in financial statements. The key takeaway is that charge registration is mandatory, irrespective of loan size or later repayment.
The ROC imposed penalties after official communications were returned undelivered. The key takeaway is that a functional registered office is a mandatory statutory requirement.
The tribunal held that assessments completed through the DRP mechanism remain subject to the outer time limit prescribed under section 153. The key takeaway is that section 144C does not extend or override statutory limitation periods.
