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‘Force of attraction rule’ as explained in Article 7(3) of India-UK DTAA – Where a permanent establishment takes an active part in negotiation, concluding or fulfilling contracts entered into by the enterprise, then, notwithstanding that other parts of the enterprise have also participated in those transactions, that proportion of profits of the enterprise arising out of these contracts
In the instant case the assessee seems to be quite negligent by not taking the necessary steps for filing the appeal within the time prescribed by the statute .The conduct of the assessee reveals that the assessee takes the condonation of delay provision as granted. The assessee did not care to submit any request for condonation of delay , even when it was brought specifically to his notice at the time of filing of appeal itself.
This appeal by the revenue is directed against the order dated 16.4.2004 of the Commissioner of Income Tax (Appeals) for the Assessment Year 2001-02.
Mrs. Chitra Venkataraman, J. – The following are the questions of law raised by the assessee in the tax case appeal filed as against the order of the Tribunal relating to the Assessment Year 2001-02.
After going through several decisions of the Hon’ble Supreme Court and the nature of defects in relation to the appeals as pointed out by the Registry, certain common discrepancies/mistakes are noticed which are outlined below :
This is a Revenue appeal against the orders of the CIT (A)-10 Mumbai dated 30.07.2010. The Revenue has raised two grounds which are as under:
In This case ITAT Delhi held that Limit U/s 54EC of rs. 50 lakh Applies to Financial year not to the transaction. Court Further held that Cheque has to be issued within 6 months. Encashment of Cheque & Allotment of Bonds beyond 6 months is irrelevant.
For the purpose of claiming benefit of deduction of the sum paid against the liability of tax, duty, cess, fee, etc., the year of payment is relevant and is only to be taken into account. The year in which the assessee incurred the liability to pay such tax, duty, etc., has no relevance and cannot be linked with the matter of giving benefit of deduction under Section 43B of the Act.
Per Bench – Out of this bunch of ten appeals, there are various appeals of the assessee and the revenue for different assessment years against separate orders of Ld. CIT(A) VIII, Ahmedabad. All these appeals were heard together and are being disposed off by way of this common order for the sake of convenience.
When there was intensive examination in the first instance in respect of the issue, which was the basis for re-opening of assessment, it was necessary for the AO to indicate, what other material, or objective facts, constituted reasons to believe that the assessee had failed to disclose a material fact, necessitating reassessment proceedings.
