The ITAT Delhi held where a taxpayer engaged in rendering advertising and related services to its Associated Enterprises (AEs) is also acting as an intermediary between the AEs and the third party vendor to rent advertisement space from the vendor, costs recovered by the taxpayer from the AEs for such renting and then passed on to the vendors (pass-through costs) would not be value adding costs for the taxpayer and would, therefore, not be taken into account for computing net profit margin (Operating Profit / Total Cost) of the taxpayer for applying the Transactional Net Margin Method (TNMM).
Improves investor confidence across the world with transparency and comparability Improves inter-unit/ inter-firm/inter-industry comparison Group consolidation made easy with same standard by all companies in group wherever located Acceptability of f
In a move that is certain to invite charges of political witch-hunt, the income-tax department has opened investigations into 15 companies owned by rebel Congress MP Jagan Mohan Reddy, including Bharti Cements and Jagruti Publications, for allegedly evading tax.
This appeal has been preferred by the revenue under Section 35G of the Central Excise Act, 1944 read with Section 83 of the Finance Act , 1994 against order dated 22.3.2010 passed by the Customs Excise and Service Tax Appellate Tribunal, New Delhi proposing following substantial question of law
In this tax appeal, Tribunal upholds Section 78 penalty, sets aside Section 76. Learn about the mutually exclusive nature and legal implications.
As private telecom operators gear up to launch full-fledged 3G services, the Department of Telecommunications has asked three telecom service providers — Airtel, Tata and Reliance Communications — that have already started offering third generation m
Companies are free to participate in the Award Scheme either for the company as a whole or for each unit separately. The Award Categories are as follows : Public Sector – Manufacturing (Small, Medium and Large) Private Sector – Manufacturing (Small
In this case, a war widow was given a gas distribution agency. She was managing it with her two daughters. When she became old, she made it into a partnership. She held 51 per cent and another held the rest. The corporation cancelled the licence on t
Goods brought into the country without valid licence is not entitled to customs exemption, and it should be treated in the same way as smuggled goods, the SC stated in the case, Commissioner of Customs vs M/s M Ambalal & Co. In this case, a large qua
The Industrial Disputes Act does not prescribe any time limit for referring a dispute to the labour court, the Supreme Court has stated in its judgment, Kuldeep Singh vs Instrument Design Development Centre. In this case, the employee was terminated
