Held that as the assessee is in windmill’s power generation business, additional depreciation available for windmill u/s 32(1)(iia).
The intention of the parties is a key factor in determining the nature of the transaction. Hence, when the husband purchased the property in favour of his wife, unless the contrary is proved, it will be treated as the property of the wife purchased for her benefit.
TDS not deductible u/s 195 as the petitioner only seeks to make payment to Walmart Inc. of its payment to the seconded employee which is stated to be by way of reimbursement
Held that para 2 of Circular 35/2017-Cus is clearly contrary to Section 110 A and is, consequently, void and unenforceable at law. It is not permissible for the CBEC, by executive fiat, to incorporate limitations, on provisional release of seized goods, which find no place in the parent statutory provision, i.e. Section 110 A of the Act.
Held that the information that does not touch upon any of the sensitive and confidential activities undertaken by the Vigilance Department, cannot be withheld.
Shares are financial assets classified as tangible assets because they derive value from contractual claims. Hence, the same is not depreciable u/s 32 (1) (ii) of The Act.
Criminal proceedings justified on account of wilful and deliberate concealment of true and correct income by not filing the return of income within the time stipulated
Held that the period of limitation prescribed under Section 153 (2A) or 153 (3) is applicable, when the matters are remanded back irrespective of whether it is to the Assessing Officer or TPO or the DRP, the duty is on the assessing officer to pass orders.
Held that agreement would not be discharged by death of the party thereto and will be enforceable by or against the heirs of the deceased. Accordingly, present arbitration application allowed.
Held that mere extraordinary profit cannot be criteria for adjustment in the transfer price
