objections

Delhi High Court in the case of Messe Dusseldorf India Pvt. Ltd. (Taxpayer) [2010-TIOL- 74-HC-DEL-IT] dismissing a writ petition, held that in cases where a taxpayer has not been provided an opportunity of being heard by the Transfer Pricing Officer, the taxpayer is entitled to raise all objections and furnish necessary evidence to the Dispute Resolution Panel (DRP). The DRP has to pass speaking order after taking into consideration the objections filed and evidences fur.. Full Article

The government’s tax collections could take a Rs 10,000-crore hit this year due to the setting up of the income-tax dispute resolution panel (DRP) for settling transfer pricing disputes. Such a dispute arises when there is a disagreement between the government and the taxpayer, especially a foreign company, in determining the tax liability of its subsidiary. Full Article

CASE LAW DETAILS Decided by: ITAT, MUMBAI BENCHES `E’, MUMBAI, In The case of: The Jai Hind Co-op Housing Society Ltd. V.ITO, Appeal No.: ITA NO. 88/Mum/2006,  Decided on: December 17, 2008 RELEVENT PARAGRAPH 7. We have the rival submissions and perused the records. During the year under consideration the assessee society had claimed as [...] Full Article

CASE LAW DETAILS Decided by:. ITAT, MUMBAI BENCHES `G’, MUMBAI, In The case of: Memorial Medical Association v CIT, Appeal No. : ITA No. 2957/Mum/2006, Decided on: March 18, 2009 SUMMARY OF CASE LAW The requirement of section 12AA is that the order granting or refusing the registration is to be passed by the CIT [...] Full Article

CASE LAW DETAILS Decided by:. ITAT, BENCH `A’ CHENNAI, In The case of: ITO v Medicorp Technologies India Ltd., Appeal No. : ITA No. 2328/Mds/2007, Decided on: January 16, 2009 SUMMARY OF CASE LAW Capability to have a market value, assignability, transferability, diminution in value, are no more the touch stones on which the admissibility [...] Full Article

CASE LAW DETAILS Decided by:. CESTAT, PRINCIPAL BENCH, NEW DELHI, In The case of: Nyco S. A. v. CST, Appeal No. : STA No. 19 & 27 of 2007 –Cus. , Decided on: February 23, 2009   RELEVENT PARAGRAPH  6. We have thoroughly gone through the averments of both the sides. To appreciate the case of [...] Full Article

Circular No.  885/05/ 2009-CX  Dt 30.4.2009  (F.No.275/121/2008-CX.8A) Central Board of Excise & Customs     Subject:  Monitoring of pendency of appeals – instructions regarding. In supersession of the Circular No. 291/7/97-CX dated 20.1.1997 and considering the present pendency of disposal of appeals by Commissioner (Appeals), the norms of disposal of appeals by Commissioner (Appeals) has been reworked out.  [...] Full Article

In a move to plug loopholes that led to the alleged tax evasion by telecom giant Vodafone, the Income-Tax Department will make it mandatory for firms to submit information to it online before remitting payments to foreign companies, from July this year. “The information … shall be furnished electronically to the website designated by the [...] Full Article