The Court clarified that rental payments for aircraft engines fall under equipment per the India-Netherlands DTAA, and beneficial DTAA rates apply for TDS. Section 206AA cannot override these provisions.
SC ordered Department to comply with High Court directions and issue C-Forms and F-Forms after verification of indemnity bonds, leaving legal questions open for future cases.
The Court held that once evidence under Section 145 NI Act has commenced, returning the complaint solely due to the 2015 jurisdictional amendment is improper. It restored the case to the Kolkata court, emphasizing continuity of proceedings and preventing prejudice to either party.
The Supreme Court held that a writ petition cannot bypass statutory appeal remedies under the Customs Act. Delay in filing the statutory appeal barred the petitioner from seeking relief under Article 226.
Courts ruled that interest paid on loans to associated companies is deductible if commercially expedient and used for business purposes. Lower interest rates compared to borrowed funds do not warrant disallowance. Section 36(1)(iii) allows deductions irrespective of the capital asset acquired.
The Court held that income of Associations of Persons or syndicates cannot be combined with members’ income. Petitions challenging this were dismissed, confirming separate taxation.
High Court quashed Section 153C notices and assessment as diaries and loose sheets lacked evidentiary value, reaffirming statutory requirements for assessing income. SC Upholds HC Decision
SC disposes of Revenue SLPs; TOLA applies but reassessment timelines remain strictly enforced.
The Supreme Court refused to interfere after noting that the petitioner had an effective statutory appeal against the confiscation order. The Court upheld the High Court’s view and allowed the petitioner 30 days to file an appeal.
Supreme Court dismissed SLPs, confirming that DTAA rates override Section 206AA for non-residents without PAN. The case follows the Air India ratio, providing legal finality on TDS obligations.
