"18 April 2019" Archive - Page 2

No Transfer on mere appointment of Power of Attorney for property

Sh. Gurdev Singh Vs ITO (ITAT Amritsar)

Sh. Gurdev Singh Vs ITO (ITAT Amritsar) Smt. Harsharan Kaur was 73 years old lady at the relevant time. Therefore, she gave Power of Attorney to the assessee since she could not maintain the property. It was further submitted that within one year from the date of general Power of Attorney, the assessee gave the […]...

Read More

Global Risks and Policy Challenges facing Emerging Market Economies

The biggest risk facing these economies is the growing evidence that global growth and trade is weakening. Unsettled trade tensions and developments around Brexit are imparting further downside risks to the outlook. There is considerable uncertainty as to whether this weakness is temporary or the beginning of a recession in advanced econo...

Read More
Posted Under: Income Tax |

Decision of Bombay HC needs Review: Deduction of Taxes paid Abroad

The foreign corporate tax written off in the books is not an allowable deduction In this regard, it is pertinent to note that the deductibility of the foreign tax has to be interpreted with reference to section 37(1) r.w. section 40(a)(ii) of the Income Tax Act, 1961. Understanding of the facts A view can be […]...

Read More
Posted Under: Income Tax |

ITAT Grants stay on demand to Google on Payment of Rs. 475 Crore as Tax

M/s. Google India Private Ltd. Vs JCIT (ITAT Bangalore)

M/s. Google India Private Ltd. Vs. JCIT (ITAT Bangalore) After considering the existence of prima facie case, balance of convenience, relative hardship, the earlier orders of the Tribunal and the orders of the Hon’ble High Court of Karnataka in the case of the Assessee on identical issue of grant of stay, the offer to pay […]...

Read More

Selection of Suitable Form of Business Enterprises – An Effortful Decision For Success in Business

Whenever a person wants to start a business or venture, then a big question after deciding the nature of business and capital investment is that what should be the form of business. Whether to do alone by going for sole proprietorship business or to start partnership firm with someone. And further, if it is partnership […]...

Read More
Posted Under: Income Tax |

Boards Report for Small Company and OPC

Preparation of Boards Report is one of the most vital phenomena of a Company with consistent deliberations like what should form a part of the report and what not, so that it becomes apt to be served to the shareholders & stakeholders to cater their needs satisfactorily. With the new Companies Act, the Boards Report […]...

Read More
Posted Under: Income Tax |

Reassessment invalid if notice U/s. 143(2) not issued after notice u/s 147/148

ITO Vs S. M. Batha Education Trust (ITAT Pune)

ITO Vs S. M. Batha Education Trust (ITAT Pune) In the absence of pending return of income, the provisions of section 143(2) of the Act is clear that notice can be issued only when a valid return is pending for assessment. Reassessment proceedings is invalid if notice U/sec.143(2) is issued prior to filing of return […]...

Read More

Angel Tax: A Guardian to the Startups Or Not?

Gone are days when we use to strive to stand in the lines for the payment of the bills in the scorching heat. Nowadays, the payment of the bill is just one click away instead of few doors away. The world is developing and so are the people and their living standard. In the world […]...

Read More
Posted Under: Income Tax |