Inter-trust donations from one charitable trust to another for utilization by the donee trust for charitable purposes was proper application of income for charitable purposes in the hands of the donee trust and it would not affect the exemption claimed as application by the Donor trust.
PCIT Vs S.R.Trust (Madras High Court) Conclusion: In the absence of any incriminating documents or evidence discovered during the course of search under Section 132 in the case of searched person against the assessee, the jurisdiction under the provisions of Section 153C could not be assumed. Held: Assessee was a charitable trust registered under Section […]
Religare Technova Global Solutions Ltd. Vs Commissioner of Service Tax (CESTAT Bangalore) Conclusion: Since the activities undertaken by assessee were covered under the Information Technology Services as taxable under Section 65(105)(zzzze) with effect from May 16, 2008 and prior to 16-5-2008, even the services rendered by assessee was excluded from the scope of consulting engineer’s […]
Assignment of trademark and the IPR were amounted to permanent transfer and no service tax was applicable on permanent transfer of IP Rights by Foster’s to assessee.
Income earned by assessee from shipping operations in India was not taxable in India by virtue of Article 24 of India Singapore DTAA as the conditions stipulated under Article 24 were not satisfied and the benefit of Article 8 of India Singapore DTAA was applicable and as per which shipping income of a resident of Singapore was taxable only in Singapore but not in India.
Reopening of assessment under section 147 was not justified when there was no evidence to show that there was escapement of income due to failure on the part of assessee to disclose fully and truly all material facts necessary for assessment.
Device Driven (India) Pvt. Ltd. Vs CIT (Kerala High Court) No TDS on commission paid to non-resident agent for effecting exports as it was not taxable under Income Tax Act Conclusion: Services rendered for effecting exports within India by assessee-company to foreign buyers would not attract income tax since the income was derived from the […]
Designated Committee cannot revisit the issue if once made the determination under Section 127(4) r/w. Rule 6 of the SVLDR Scheme Rules, 2019
Disallowance made by AO under section 40(a)(ia) for non deduction of TDS on discount/rebate allowed to dealers/distributors on sale of products was not justified as there was no element of work as defined under clause (iv) of Explanation to section 194C and AO had not brought on record any material for deduction of TDS under section 194H that the dealers/distributors were simply acting as intermediaries to facilitate sale of products to end users so as to infer a principal–agent relationship.
Settlement received from the Government of India was not coming under the purview of the business income as there was no business during the period and income which had not accrued to assessee could not be termed as business income.
