We have considered the, rival submissions, perused the material on record. In the instant case, rehabilitation scheme was sanctioned by the BIFR on 05.07.2001, A copy of the summary record of the proceedings of the hearing held on 5.7.2001 before BIFR- have been placed in the Paper Book. It has been held in the aforesaid proceedings para 22 as under:
The payment for use of services for MTNL/other companies via the interconnect/port/access/toll by the assessee would not fall within the purview of payments as provided for under section 194J of the Act, so as to be eligible for tax deduction at source.
11. The powers of the Tribunal emanates from the provision of section 254 of the Act and not from any other provisions. The provisions of section 132 of the Act considered by the Hon’ble Rajasthan High Court only specifies the circumstances under which search warrant can be issued by the competent authority. Such provisions have nothing to do with the powers of the Tribunal
India Cine Agencies Vs CIT, Madras Income tax – Sec 32AB benefits – assessee converts jumbo rolls of photographic films into small rolls of various sizes – claims Sec 32AB, Sec 80HH and Sec 80I benefits – AO says it is neither manufacture nor production
Explore the Supreme Court judgment on Corporation Bank vs. Saraswati Abharansala regarding excess Sales Tax collection. Learn how the retrospective effect of a notification led to a rate reduction, compelling the state to refund the excess amount. Discover the legal implications, the court’s interpretation, and the directive for the state to refund the tax with interest. Stay informed about key legal precedents and the principles of statutory construction.
Haleema Zubair, Tropical Traders Vs. State of Kerala (Supreme Court of India)- The business activities relating to transaction of M/s. Poseidon Food Company unless otherwise proved cannot bring the appellant within the purview of definition of `dealer’. If she was not a dealer, the professional fees earned by her would not be exigible to payment of sales tax; only because the appellant happens to be the proprietress of M/s. Tropical Traders also.
Income tax – DTAA – Assessee is incorporated in Netherlands – engaged in airlines business of carrying passengers as well as cargo – gets licence from Airport Authority of India for cargo space – enters into a contract with a company to take care of cargo-booking and handling service on commission basis – While making payments to the outsourced company the assessee adjusts the rent payable to AAI – AO treats the rent deducted from the payments made to the outsourced company as income taxable to tax in India – Tribunal finds it inextricably linked to the cargo handling business for which licence was issued and such rent adjustment cannot be treated as ‘income from other sources – Tribunal has correctly understood the law – Revenue’s appeal dismissed.
Whether the revenue can be precluded from filing an appeal even though in respect of some other years involving identical dispute no appeal is filed. merely because in some cases revenue has not preferred an appeal that does not operate as a bar for the revenue to prefer an appeal in another case where there is just cause for doing so or it is in public interest to do so or for a pronouncement by the higher court when divergent views are expressed by the different High Courts. In this case, it is accepted by the learned counsel for the appellant-revenue that the fact situation in all the assessment years is same. According to him, if the fact situation changes then the revenue can certainly prefer an appeal notwithstanding the fact that for some years no appeal was preferred.
This petition under article 226 of the Constitution of India registers a challenge to the order dated August 23, 2007, passed by the learned Income-tax Appellate Tribunal, Guwahati Bench, Guwahati (hereinafter referred to as the Tribunal), dismissing four appeals being
CIT vs Oil and Natural Gas Corpn. Ltd.- Business loss: Business expenditure – Notional Liability: Loss due to fluctuations in foreign exchange rates The assessee had borrowed funds in foreign exchange for the purpose of capital outlay.
