ITAT Delhi held that notional interest on debit balance of partners account not sustainable in absence of information of diversion of interest bearing borrowed funds for non-business purpose. Further, notional interest cannot be charged for taxing in the partners debt balance specifically when there is no discussion in the partnership deed
ITAT Delhi held that merely making a claim which is not sustainable in law will not amount to furnishing inaccurate particulars entailing levy of penalty under section 271(1)(c) of the Income Tax Act automatically.
ITAT Pune held that the statutory provisions of interest on refund (section 244A of the Act) cannot be altered by issue of circular by CBDT to the extent they are beneficial to the taxpayer.
ITAT Kolkata held that sale of software is transfer of ‘copyrighted article’ and not transfer of any ‘copyright’ and hence cannot be characterized as ‘Royalty’. Hence, the same is not taxable in terms of India-Ireland DTAA.
ITAT Delhi held that the social security, insurance, relocation expenses which are in the nature of committed and obligated payments are in the nature of reimbursements and not fee for technical services.
ITAT Delhi held that when debt is taken as part of receipts by the charitable trust, repayment of such debt would be accepted as application of income.
False statements made knowingly and willfully have a criminal offence under Section 448 of the Companies Act, 2013. Learn more about the punishment in this analysis.
Learn about MSME, the Micro, Small and Medium Enterprises, and its certification requirements and acceptance day in this blog post
Labour registration is the process of formalising ones workforce entry and getting access to rights, benefits & protections. Understand Meaning, Purpose & Benefits of Labour Registration here
HC allow assessee to file appeal where there is delay of a negligible period by extending stipulated time under Section 107 of CGST Act 2017
