The Mumbai bench of Income Tax Appellate Tribunal (ITAT) recently ruled that technical services would not include services provided by the machines for the purpose of Tax Deducted at Source ( TDS ).
Upon conjoint reading of Trust Deed and SEBI directions as above, we conclude that the said expenditure was incurred by the assessee to safeguard / protect its business interest and therefore, allowable to the assessee in terms of Section 37.
In the facts and circumstances of the case and in law, the ld. CIT(A) has grossly erred in confirming the action of ld. AO in disallowing the claim o f expenditure of Rs. 1,71,67,000/- by applying section 40A(3) of Income Tax Act, 1961. The action of the ld. CIT(A) is illegal, unjustified, arbitrary and against the facts of the case. Relief may please may be granted by deleting the entire addition Rs. 1,71,67,000/- imposed under section 40A(3)
Instructions for filling out FORM ITR-3 (A.Y. 2018-19) These instructions are guidelines for filling the particulars in this Return Form. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962. 1. Assessment Year for which this Income Tax Return Form ITR-3 is applicable This Return […]
For an investor, brokerage charges form a large part of his share trading experience and as an investor one must be vigilant about the amount being charged in the form of brokerage. Depending on the sum of money invested, brokerage fees could play a big role in the overall trading experience. The brokerage cost is […]
Future Corporate Resources Ltd. Vs. Dy. CIT (ITAT Mumbai) The assessee argued that it had earned meager dividend income of Rs. 24,138 as against which, the assessing officer disallowed a sum of Rs. 3,36,28,000 which is more than the exempt income. The assessee further argued that dis-allowance under section 14A cannot exceed amount of exempt […]
Where assessee received capital from the partner in cash, it did not tentamount to loan or deposit and therefore, penalty under section 271D was not to be levied for violation of section 269SS.
Attention of the Importers, Exporters, General Trade, Custom Brokers and all other stakeholders in the jurisdiction of JNCH, Nhava Sheva is invited to the “Notice for operationalisation of draft Food Safety and Standards (Import) Second Amendment Regulations, 2018 issued by the Director (Import)
Tariff Notification No. 42/2018-Cus (NT) dated- 15.05.2018 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver.
The IBBI hereby constitutes a Working Group on Graduate Insolvency Programme as under: a. Mr. T. V. Mohandas Pai, Chairman, Manipal Global Education b. Mr. P. R. Ramesh, Chairman, Deloitte India c. Mr. Sumant Batra, President, Society of Insolvency Practitioners of India
