AAR held that division of the single Tender to answer particular situations and ignore other situations will not be the right way to go forward and therefore this Authority will not be able to answer the questions raised by the applicant.
Held that we are of the considered view that the predominant intention of entering into these agreements is letting out of the property and not provision of any independent services.
ITAT held that it is not a sham and bogus transaction. One of the grounds considered for recording that finding is that when the other party is a statutory body the question of evasion of tax does not arise
Assessee contended That National Faceless Appeal Centre, Delhi erred in rejecting appeal filed by the assessee summarily by stating that appellant has not filed appeal against intimation order u/s 143(1) and tried to take back door entry by filing appeal against order u/s 154 for which the original cause of action has arisen at the stage of 143(1) itself without appreciating the fact that on first stage appellant has taken the remedy of filing application u/s 154 which is legal and as per the provision of Income Tax Act.
The assessee has received incentive in the form of Octroi refund under Govt. of Maharashtra Package Scheme of Incentives, 2007. We find that the Coordinate Bench of the Tribunal in the case of ACIT Vs. M/s. Universal Construction Machinery and Equipments Ltd. in an identical set of facts has held subsidy received by the assessee under Package Scheme of Incentives, 2007 as capital in nature.
The amendment introduced in the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 promulgated on 6 June 2018. Vide this amendment new concept has been introduced i.e. appointment of Authorised Representative for ‘class of creditors’.
A bare knuckle truth about the aviation industry is that globally, the airports and airlines struggle between balancing the impact of aviation on environment and customer satisfaction.
In this era where cyber space and digital environment has became one inextricable factor, the nature of evidence related to any case is also evolving to be digital.
Understand the new provisions of the Indian Stamp Act and Finance Act regarding the rate of stamp duty on shares and debentures.
Learn about the new TDS section 194S and its implications on the transfer of virtual digital assets. Stay updated with the changes in the Income Tax Act.
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