ITAT Kolkata held in the case of DCIT Vs Shri Subhotosh Majumder that the amended law of the deduction of tax at source of services which were to be utilized in India would be taxable in India would not have retrospective effect on the tax liability of withholding taxes.
ITAT Mumbai held in Punjab & Sind Dairy Products Pvt Ltd Vs Dy. CIT that in the case of assessee itself in earlier year, ITAT had rejected the books of accounts on the basis that assessee failed to produce books of accounts as demanded by ITAT.
ITAT held in M/s F.C Sondhi & Co.(India) P Ltd Vs The DCIT that the premium paid on the keyman Insurance Policy would be allowed as a business expense because the same had been paid for the growth
In case of DIT (E) Vs. M/s Jasubhai Foundation, BOmbay High Court upheld the decision of ITAT in which it was held that section 10 and section 11, though mentioned in same chapter, but conditions mentioned in both sections are mutually exclusive from each other.
ITAT Delhi held in case of ACIT Vs. PTC Industries Ltd. ITAT held that when expenditure claimed is genuine then penalty u/s 271 (1) (c) cannot be levied. ITAT relied upon the decision of Hon’ble Supreme Court in the case of CIT Vs. Reliance Petro Product Pvt. Ltd. (2010) 36 DTR 449 (SC) wherein it was held that merely because of the assessee’s claim
CIT vs. Sane & Doshi Enterprises (Bombay High Court) The three grounds which have been projected and emphasised pertain to treatment of total income as income from house property and allowing deduction under section 24 ignoring the fact that the income was received from the business asset (unsold flats) shown as closing stock.
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for the revised Model Text for the Indian Bilateral Investment Treaty. The revised Indian model text for Bilateral Investment Treaty (BIT) will replace the existing Indian Model BIT. The revised model BIT will be used for re-negotiation of existing BITs […]
No.A-45011/38/2013-Ad.l (Pt.) Punctuality is a wonderful trait of a person which is admired and respected. Observance of punctuality at the workplace is more important because it is here that one gets paid for the hours he/she puts in.
With this amendment, paragraph 4.76 of the Handbook of Procedures 2015-20 will also cover the procedure to be followed for processing applications for enlistment / authorisation of Laboratories stated in paragraph 4.42 of FTP 2015-20.
M/s HRD Diamond Institute Private Limited, Mumbai, Maharashtra, India is added as agency permitted to import duty free diamonds for certification/grading and subsequent re-export, subject to conditions mentioned in paragraph 4.75 of Handbook of Procedures 2015-20 and other applicable provisions of the law in this regard.
