The Income Tax Appellate Tribunal recently proclaimed that the provisions relating to TDS would not be applicable in case of interest paid to a Non-Banking Finance Companies (NBFC) which is also engaged in business of insurance.
It is clear from the provision of section 115WB(2)(B)(i) of the Act that expenditure on food provided by the employer to the employees in an office or factory does not form part of the fringe benefit.
Pr. CIT Vs Makemy Trip India Pvt. Ltd. (Delhi High Court) The Court is of the opinion that no substantial question of law arises. The difference of opinion between the CIT(A) and the TPO, as to the appropriateness of one or the other methods, cannot per se be a ground for interference; the appropriateness of […]
Challenging the orders dated 14/03/2014 and 14/07/2014 of the CIT(A)-14, Mumbai the assessee has filed the present appeals for the above mentioned Assessment Years(AY.s). Assessee is a foreign bank and is providing banking services.
What has to be seen is the substance of the transaction. Considering the fact that the assessee had suffered loss while carrying out normal business activity i.e. selling its assets. Therefore,we hold that there was no justification for disallowing the loss suffered in the transaction.
Depreciation @ 100% on’ hoardings treated as temporary structures as against the treatment given by the AO as plant and machinery allowing depreciation @ 15%.
CBDT has entered into 2 Bilateral Advance Pricing Agreements (APAs) during the month of November, 2017. These Agreements are the first ever Bilateral APAs with The Netherlands. With the signing of these Agreements, the total number of APAs entered into by the CBDT has gone up to 186. This includes 171 Unilateral APAs and 15 Bilateral APAs.
At the outset we humbly thank the government for this wonderful initiative wherein this esteemed committee has been formed to consider the problems faced by the taxpayers in filing of their Goods and Services Tax (GST) Returns.
The above referred circular details the process for updating project details and revising/ correcting information with respect to registered projects & Agents. The circular also provides details of fields, in Annexure A and B, which are editable by the promoters themselves and those that can be requested to MahaRERA for revision/ correction.
It made me speechless when my business friend Mr. N S Nathan, showed his indignation over the high interest rate being charged by his bank though like millions of sincere borrowers, he has kept up with the conditions imposed by the banks.
