In the case of Pegasystems Worldwide India Pvt. Ltd. Vs. ACIT Hyderabad Bench of ITAT directed the AO to reduce communication cost not only from export turnover but also from the total turnover for the purpose of computation of deduction as per Explanation 2 to section 10A.
Income from display of rough diamonds in Special Notified Zone carried-out on or after 1st April, 2015 not to be taxable under the provisions of the Income-tax Act, 1961.
CBI ARRESTS A PRINCIPAL COMMISSIONER OF INCOME TAX AND AN INCOME TAX OFFICER IN AN ALLEGED BRIBERY CASE OF Rs.10 LAKH The Central Bureau of Investigation has today arrested a Principal Commissioner of Income Tax, Thiruvananthapuram and an Income Tax Officer, Thiruvananthapuram in an alleged bribery case of Rs.10 lakh (approx ). A case was […]
It was held by Kerala High Court in the case of Classic Concepts Home India Private Limited V/s. CIT that, penalty U/s 271C is exigible if delay in remittance of TDS is caused due to unreasonable cause.
Calcutta High Court held In the case of Duncan International Ltd. vs. CIT that Section 36 (2) (iii) allowed the assessee to claim the deduction on account of bad debts in subsequent years even if bad debts have written off in earlier years and which were not allowed.
Calcutta High Court held In the case of CIT vs. Mahesh Chandra Mantri that It is apparent from the language of the Section 2(22) (e) that before any payment can take the character of dividend within the meaning of the aforesaid provision it has to be shown that there were accumulated profits lying
In the case of M/s Bhagwati Motors Vs. ITO Chandigarh bench of ITAT have held that Assessee merely acted as a conduit without any right in money, therefore, no addition under section 69A of the Act could be made against the assessee.
Notification No. 220/2015 – Income Tax Dated- 16th October, 2015 S.O. 2854(E).-In exercise of the powers conferred by sub-section (I) read with clause (b) of the Explanation to Section 35 AC of the Income Tax Act, 1961 (43 of 1961), the Central Government, on the recommendation of the National Committee for Promotion of Social and Economic Welfare,
The Institute has observed certain instances where students and candidates for Institute’s examination have submitted fictitious / forged documents to the Institute duly attested by members. While the Executive Committee of the Institute has decided that such students/ candidates be debarred from pursuing the Chartered Accountancy course permanently and be not registered in any stream of the Course and further that the course fee deposited by such students/ candidates be forfeited,
No. 2/2015-NARCOTICS CONTROL-I G.S.R. 784(E).—In pursuance of rule 5 of the Narcotic Drugs & Psychotropic Substances Rules, 1985, the Central Government hereby notifies the tracts in the States of Madhya Pradesh, Rajasthan and Uttar Pradesh specified in the Table below as the tracts within which poppy may be cultivated on account of the Central Government during the opium crop year commencing on the 1st day of October, 2015 and ending on the 30th September, 2016.
