Assessee can adopt provisions of the Act for one source of income and apply DTAA provisions for another source.
Indium IV (Mauritius) Holdings Ltd. v. DCIT – [2023] 155 taxmann.com 336 (Mumbai – Trib.).
Carbon Credits – Where assessee earned income from trading of carbon credits, same would be in the nature of capital receipts and therefore, would not invite tax.
PCIT v. Gujarat Flurochemicals Ltd. – [2023] 155 taxmann.com 135 (Gujarat).
Sec. 269SS does not apply to a cash loan obtained by a company from its director.
Thamira Green Farm (P.) Ltd. v. ACIT – [2023] 155 taxmann.com 320 (Chennai – Trib.).
Sec. 35ABB – Telecommunication License – Payment of entry fee as well as variable annual license fee paid by respondent – assessees, engaged in the business of telecommunication services, to Department of Telecommunication (DOT) under New Telecom Policy, 1999 are capital in nature and may be amortised in accordance with section 35ABB.
CIT v. Bharti Hexacom Ltd. – [2023] 155 taxmann.com 322 (SC).
Time limit for processing of all validly filed returns upto AY 2017-18 with refund claims extended to 31-3-2024.
Notification No. F.No 225/132/2023/ITA-II, dated 16-10-2023.
CBDT exempts IFSC units from Form 15CA for non-taxable remittances and introduces Form 15CD for quarterly reporting.
Notification No. G.S.R. 740(E), dated 16-10-2023.