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Maa Saraswati Educational Society v. CIT

Section 12AA

Where governing body of educational-society consisted of close family members and society charged hefty fee from students, denial of registration under section 12AA was not justified as there is no bar for formation of society by family members…

Dy. CIT v. Budge Budge Refineries Ltd.

Section 4

Where subsidy was granted by government to assessee to establish unit in the backward area to promote employment and other facilities, the same was a capital receipt not liable to tax, as the subsidy was not meant for meeting out day to day operational…

Ut Starcom Inc. (India Branch) v. Dy. DIT

Section 92C

A company which had drawn its income from software product and was engaged in executing end to end project could not be accepted as a comparable for assessee company being into cutting and testing of software development in India…

CIT v. ZTE Corporation

Section 9(1)(vi)

Assessee contended that payments for supply of software embedded in hardware were in the nature of business profits and not royalty…

ITO v. Emami Paper Mills Ltd.

Section 9(1)(vii)

Where contract entered into by assessee company with a foreign company for dismantling and sea-worthy packing of paper mill machinery, it was to be treated as contract of work and not a contract of service and payment made under said contract…

Ajanta (P.) Ltd. v. Asstt. CIT

Section 80-IA read with section 148

Where assessee had two divisions and while arriving at the income for the purpose of section 80-IA deduction it was post assessment noticed that certain expenses pertaining to one of the divisions had not been debited…

CIT v. Axis (P) Equity Ltd.

Section 37(1)

Where assessee had hired office premises, put up requisite infrastructure in place to enable it to carry on its business and appointed most of the employees in the preceding year, it was treated that business had been set up…

CIT v. C. Subba Reddy

Section 2(22)(e)

Where the credit given to a shareholder was a part of contractual obligation and business transaction, it would not be treated as deemed dividend. Further, the nature of advance was not of a loan and same was also not for assessee’s benefit…

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