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2014 (5) TMI 886 - AT - Income TaxAmount payable to be treated as Royalty u/s 9(1)(vi) of the Act or not – Tax liability for receipts from SCB India - retrospective amendment - Held that:- The liability or otherwise of the assessee regarding its receipts has to be re-adjudicated in the light of retrospective amendment - The orders passed in the assessee's case by the AO, DRP and ITAT are prior to the amendment in the Statute – thus, the matter is remitted back to the AO for re-adjudication – Decided in favour of Assessee. Validity of reassessment for earlier years - income escapement assessment - Held that:- In view of discussion since all the issues raised on merits for the AY 2008-09 are directed to be re-adjudicated as per law, then the validity of reassessment proceedings for the AY 2006-07 and 2007-08 cannot be upheld. Upholding the validity of reassessment in the present case will tantamount to upholding the validity of the two assessments at a time of the same assessee in respect of same assessment year, which is not permissible in the eyes of law. - Decided partly in favor of assessee.
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