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Business Auxiliary Service means any service in relation to, — (i) promotion or marketing or sale of goods produced or provided by or belonging to the client; or (ii) promotion or marketing of service provided by the client; or
Broadcasting (Radio and Television) Services means any service provided or to be provided to a client, by a broadcasting agency or organization in relation to broadcasting, in any manner and, in the case of broadcasting agency or organisation, having its head office situated in any place outside India, includes service provided by its branch office or subsidiary or representative in India or any agent appointed in India or by any person who acts on its behalf in any manner, engaged in the activity of selling of time slots for broadcasting of any programme or obtaining sponsorships for programmes or collecting the broadcasting charges or permitting the rights to receive any form of communication like sign, signal, writing, picture, image and sounds of all kinds by transmission of electro-magnetic waves through space or through cables, direct to home signals or by any other means to cable operator, including multisystem operator or any other person on behalf of the said agency or organisation.
Brand Promotion Services – Taxable service means any service provided or to be provided to any person, by any other person, through a business entity or otherwise, under a contract for promotion or marketing of a brand of goods, service event or endorsement of name, including a trade name, logo or house mark of a business entity by appearing in advertisement and promotional event or carrying out any promotional activity for such goods, service or event.
The Ministry of Corporate Affairs introduced an Early Warning System” (EWS) in 2009 based on certain financial and non-financial indictors to ensure, as far as possible, that there is no recurrence of cases similar to Satyam Case. The criteria of EWS are used for online examination of Balance Sheets and other records of all listed companies and unlisted companies [(a) with a turnover of Rs. 100 crore or more, (b) with a paid up capital of Rs. 50 crore or more, and (c) having 1000 or more shareholders.] to generate early alerts of possible violations which could lead to commitment of frauds.
In the instant case, the assessee is a Co-operative Bank. Clause 5 of sub-section (3) of Section 194A expressly exempts the Bank from deducting the tax at source on interest payable by the Bank to its members and other Co-operative Societies. As stated by the assessee, they did not properly construe this provision. By misconstruing this provision they also did not deduct tax from the interest payable to non-members.
A former Los Angeles resident drew an 18-month federal prison sentence Monday for filing fraudulent income tax returns involving 20 nonexistent children, all with the same birthday. Norma Coronel, 40, an illegal immigrant who now lives in Livermore, was ordered by U.S. District Judge Manuel Real to pay $302,186 in restitution to the Internal Revenue Service.
Renting of Immovable Property Services means any service provided or to be provided to any person, by any other person, by renting of immovable property or any other service in relation to such renting for use in the course of or, for furtherance of, business or commerce.
Health Services means any service provided or to be provided by any hospital, nursing home or multi-specialty clinic,- (i) to an employee of any business entity, in relation to health check-up or preventive care, where the payment for such check-up or preventive care is made by such business entity directly to such hospital, nursing home or multi-specialty clinic; or (ii) to a person covered by health insurance scheme, for any health check-up or treatment, where the payment for such health check-up or treatment is made by the insurance company directly to such hospitals, nursing home or multi-specialty clinic.
DCIT Vs. M/s. Aditya Music (I) Ltd. (ITAT Hyderabad)- Facts of the case in brief are that the assessee company is a manufacturer and seller of pre-recorded audio cassettes and CDs. In Profit and Loss A/c. for the years under consideration, the assessee-company claimed the expenditure of copyrights used for manufacturing at Rs. 4,49,95,728 for A.Y. 2006-07 and Rs. 6,34,20,231 for A.Y. 2007-08 as revenue expenditure. The Assessing Officer completed the assessment by making addition of the above expenditure treating it as capital expenditure and allowed depreciation on the same.
Hindon River Mills Ltd. Vs. IFCI Ltd. & Anr. (Delhi HC) – Notwithstanding IFCI Bank Ltd. owing a fiduciary obligation towards the Company in its capacity as an Operating Agency and notwithstanding Kotak Mahindra Bank Ltd. owing a fiduciary obligation, being appointed as a consultant, towards the’Company’; we find that there would be no breach of the said fiduciary obligation in law and additionally on facts, the former on account of the legal position as noted herein above and on facts, for the facts which we have noted in para 7 herein above i.e. that when Kotak Mahindra Bank Ltd. was discussing the terms on which it would be acting as an advisor to the’Company’,
