This Master Circular is a compilation of the relevant circulars/communications pertaining to Depositories issued by SEBI up to October 31, 2020 and shall come into force from the date of its issue. References in the Master Circular to the Statutes/Regulations which now stand repealed, have been suitably updated.
Assesssee alleged to have coerced and pressurized the writ applicant to transfer an amount of almost Rs. 9 Crore to the account of the department is shocking.
By no stretch of imagination Form VAT 240 can be treated as a returns for the purposes of claiming input tax credit, especially in the light of the fact that filing of returns to compute the net tax liability has to take place keeping in view Section 10(3) and 10(4) of the KVAT Act.
Nortonlifelock Inc. Vs ACIT (ITAT Pune) ITAT held that income earned by the assessee from sale of software, either directly to the customers in India or through distributors or resellers constitutes its business income and not the Royalty income and as such business income is not taxable in India as the assessee did not have […]
Learn about the penalty imposed by MCA on a company for not authenticating board meeting attendance registers. Detailed analysis of the case and implications.
JCIT Vs United Spirits Limited (ITAT Bangalore) It is not in dispute that the shares of M/s. Lee Edges were purchased by the assessee in the Financial Year 2003-04 and those of M/s. Shaw Wallace Breveries Ltd., were purchased in the Financial Year 2001-02 were unlisted shares. These shares were sold in Financial Year 2004-05. […]
Office Order No. 30 of 2021 Post facto approval of the Competent Authority is hereby conveyed for extension of term of ad-hoc appointment of the following officers to the grade of Assistant Commissioner of Income Tax from 12.11.2020 to 11.11.2021 or until further orders:-
H. Bhima Ram Vs Principal Secretary (Madras High Court) To opt for publication of an intended acquisition in little known newspapers may amount to a fraud on the statute, and a fraud on the right to property of the citizens. Of all the four citations herein quoted, the earliest judgment delivered was on 30.06.2000 [ […]
One time waiver of Custom Duty as well as inspection requirement in case of de-bonding of IT/ ITeS units in SEZs and exemption on filing of BOE for goods sold by IT/ITeS SEZ unit which were initially procured on payment of duty and not used for authorised operations.
(i) Whether the gain on sale of stock options in USA that were given to the Indian employee by M/s.Google Inc., USA amounts to perquisites taxable under the Income Tax Act, 1961 or not?; (ii) Whether the amounts shown in Form-16 as Tax Deducted at Source on such perquisites would be the exclusive gain made by the Assessee on such stock options issued by the Holding Company in USA is sufficient to hold that it is taxable under the head ‘salary’ as ‘perquisites’ with reference to the provisions under Section 5(1) (c) and 6(6) (a) read with Section 17?;
