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Archive: June, 2024

Posts in June, 2024

Reinvesting Sale Proceeds of Foreign Equity Shares: Repatriation Exemption?

June 9, 2024 885 Views 0 comment Print

Learn the rules for reinvesting proceeds from foreign equity sales without repatriating to India, covering ODI, OPI, and repatriation requirements.

Resolution Professional as a Business Solution Provider

June 9, 2024 831 Views 0 comment Print

The role of a Resolution Professionals can be considered as a Business Solution provider in the context of Insolvency Process. Under IBC Resolution Professional is appointed to manage the business of entity/person which is undergoing insolvency which could be CIRP, FFIRP, Liquidation etc.

Restrictions on Layers of Subsidiaries for Holding Companies

June 9, 2024 1284 Views 0 comment Print

Learn about the restrictions on subsidiary layers for holding companies under the Companies (Restriction on Number of Layers) Rules, 2017.

Details required for Identification of SBO under SBO Rules

June 9, 2024 714 Views 0 comment Print

Ensure compliance with the latest ROC order on SBO rules. Provide board members, shareholders, MOA, AOA, financial reports, employee details, and more.

Tax reports can be upheld without cross-examination if principles of natural justice followed

June 9, 2024 1113 Views 0 comment Print

Andhra Pradesh High Court rules that tax reports can be upheld without cross-examination if principles of natural justice are followed. Detailed analysis and case law.

Taxability of secondment receipts: ITAT deletes Section 271(1)(c) & 270A Penalty

June 9, 2024 1116 Views 0 comment Print

Discover the ITAT Bangalore ruling on IBM Canada Limited vs. DCIT, where salary reimbursements of seconded employees were deemed non-taxable as fees for technical services.

Subsidiary would only be deemed a PE if it satisfies specific tests outlined in DTAA

June 9, 2024 612 Views 0 comment Print

Delhi High Court quashes reassessment notices by DCIT after TPO settles arm’s length remuneration issue. Detailed analysis of Progress Rail Locomotive Inc. vs DCIT case.

ITAT deletes Section 69A Addition in the hand of intermediary in fund transfer

June 9, 2024 912 Views 0 comment Print

ITAT Ahmedabad deletes ₹4.45 crore addition under Section 69. Money from JDS Industries not deemed as Global Ship Trade P. Ltd’s income. Detailed case analysis.

Interest Calculation from DVAT Tribunal Order Date: Delhi HC

June 9, 2024 558 Views 0 comment Print

Delhi High Court rules that interest on refunds under the DVAT Act should be computed from the date of the DVAT Appellate Tribunal’s order, not from the deposit date.

Jurisdictional error in Section 143(2) notice cannot be cured under section 292BB 

June 9, 2024 2355 Views 0 comment Print

Read the full text of the ITAT Delhi’s order on the invalid notice issued before filing ITR, leading to the quashing of the assessment order in the case of Mideast Integrated Steels Ltd Vs ACIT.

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