"22 August 2015" Archive

Income earned from Supply of software embedded in hardware is not royalty

CIT Vs Alcatel Lucent Canada (Delhi High Court)

The Hon’ble Delhi High Court in the case of Alcatel Lucent Canada held that the income earned from the supply of hardware equipment where the embedded software facilitates the functioning of the equipmentcannot be taxed as royalty payments for use of software because there could not be any independent use of such software. ...

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Income from activities not attributable to PE in India cannot be taxed as business profits of foreign company under DTAA

The ITAT Bangalore in the case of ABB Inc cracking down the order of Dispute Resolution Panel held that the incomes earned by foreign company from India can be taxed in India only when the incomes are attributable to the PE of foreign company in India....

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Posted Under: Income Tax |

Taxation of Coaching Services: Now And For Future ?

Knowledge is an eye for the blind, ears for the deaf, strength for the weak and all in all it is a boon for the mankind. It is argued that a person who is blind is weak only in one sense but the one who is uneducated is weak by all senses. For every benefit that you receive, a Tax is levied. Perhaps this seemed never so real than today in...

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Posted Under: Income Tax |

No deduction U/s. Section 80IB(10) if completion certificate issued after cut off date

CIT Vs M/s Global Reality (Madhya Pradesh High Court)

CIT Vs M/s Global Reality (Madhya Pradesh High Court) The next question that needs to be answered, is, whether the stipulation in Section 80IB(10)(a) can be said to be directory. Considering the prodigious benefit offered in terms of Section 80IB to the assessee (hundred per cent of the profits derived in any previous year relevant [&hell...

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PIO must observe time limit in rejecting RTI Applications

The time limit stipulated under the provisions of the RTI Act is normally 30 days either for supplying information or rejecting the application, from the date of receipt of such Application under Section 6(1) of the Right to Information Act, 2005. However, when such information is under the custody of other division, department or agency,...

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Posted Under: Income Tax |

No Service tax can be levied on indivisible Works Contracts prior to June 1, 2007

Commissioner of Central Excise and Customs, Kerala and Others Vs Larsen and Toubro Ltd. And Others (Supreme Court of India)

In the case of Larsen and Toubro Ltd, Kehems Engg Pvt Ltd Vs. CST, Delhi/ CCE & ST, Indore/ CCE/ Rajkot and CCE & ST, Indore Vs. Kehems Engineering Pvt Ltd. [2015-TIOL-527-CESTAT-DEL-LB], the Five Member Bench of the Hon’ble CESTAT, Delhi ...

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A Practical Perspective View on The Secretarial Standards

India has laws for everything. Without laws Indians follow nothing. The Children’s School Bags Act, 2006 prescribes school bags should not weigh more than 10% of the body weight of the child. Similarly, it may be proposed, that laws should not create more problems than they aim to solve....

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Posted Under: Income Tax |

Point Of Taxation In Service Tax For New Services

Rule 2(e) defines ‘point of taxation’ as the point in time when a service shall be deemed to have been provided. This will be determined as per Point of Taxation Rules 2011. The determination of point of taxation shall be crucial to determine the timing of service tax liability and the applicability of rate of service tax. The taxabil...

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Posted Under: Income Tax |

Beware of Online Phishing

Phishing is a kind of fraud perpetrated on the Internet. It aims at stealing the personal information of online users such as customer ID, PIN, Credit/Debit card data, etc. by assuring certain favors in return. It's a sophisticated con act akin to catching the fish with a dangling bait. This hi-tech fraudulence is carried out through emai...

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Posted Under: Income Tax |

Value of Duty in Our Life

Each person has a duty of his own and for others. The one who fears the consequences of the duty shies away from it. That's why Lord Krishna made the spiritual discourse 'Bhagavad Gita' when the dejected warrior Arjuna refused to fight against his kith and kin in the battlefield of Kurukshetra. The Gita became the guide for human life....

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Posted Under: Income Tax |

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