DCIT Vs M/s DSM Sinochem Pharmaceuticals Pvt. Ltd. (ITAT Chandigarh) In this case since there was no reason at all for reopening the case on the issue of treatment of royalty expenses ,since the same had already been decided in favour of the assessee by the ITAT, before the recording of reasons for reopening the present case. […]
In re Nipro India Corporation Private Limited (GST AAR Maharashtra) Present application for advance ruling is being filed to determine the eligibility of ITC in relation to costs proposed to be incurred for ‘Mechanical Works’ and ‘Electrical Works’ under the Extension Project. ‘Mechanical Works’ entails activities in the nature of Plumbing Works, Fire Protection Work, […]
Indo Latin American Chamber of Commerce, New Delhi; Ahmedabad Export Import Development Association (AEIDA), Ahmedabad; Andhra Pradesh Chambers of Commerce and Industry Federation, Vijaywada and Telangana Chamber of Commerce and Industry, Hyderabad are enlists under Appendix 2E of FTP, 2015-2020 for issuing Certificate of Origin (Non-Preferential).
Re-examination of the Final Finding dated 28.07.2017 issued by the Designated Authority, pursuant to the CESTAT Final Order No. AD/A/50938-50942/2018-CU[DB] dated 13.03.2018 in the matter of Anti-dumping investigation concerning imports of Castings for Wind Operated Electricity Generators, whether or not machined, in raw, finished or sub-assembled form, or as a part of a sub-assembly, or as a part of an equipment/component meant for wind-operated electricity generators originating in or exported from China PR.
Re-examination of the Final Finding dated 28.07.2017 issued by the Designated Authority, pursuant to the CESTAT Final Order No. AD/A/50938-50942/2018-CU[DB] dated 13.03.2018 in the matter of Anti-dumping investigation concerning imports of Castings for Wind Operated Electricity Generators, whether or not machined, in raw, finished or sub-assembled form, or as a part of a sub-assembly, or as a part of an equipment/component meant for wind-operated electricity generators originating in or exported from China PR.
The mere circumstance that the depreciation rate is spelt out in the Schedule to the Income-tax Act in our opinion is not conclusive as to the nature of the expenditure and whether it resulted an enduring advantage to a particular assesseeIt is nobody’s case that assessee is dealing with computer softwares or is in the business of any related services.
A bare reading of cl. (baa) (1) indicates that receipts by way of brokerage, commission, interest, rent, charges etc., formed part of gross total income being business profits. But, for the purposes of working out the formula and in order to avoid distortion of arriving export profits cl. (baa) stood inserted to say that although incentive profits and ‘independent incomes’ constituted part of gross total income, they had to be excluded from gross total income because such receipts had no nexus with the export turnover.
This Revenue’s appeal and assessee’s cross objection for assessment year 2010-11 arise against the CIT(A), Gandhinagar’s order dated 22.05.2014, in case no. CIT(A)/GNR/2 12/2013-14, reversing Assessing Officer’s action making long term capital gains addition of Rs. 70,34,635/- by invoking Section 50C of the Act, in proceedings u/s. 143(3) of the Income Tax Act, 1961; in short the Act.
Section 41(1) of the Act in plain terms provides for adding back of an allowance or deduction which has been made by the assessee in any year in respect of loss expenditure or trading liability and subsequently during any previous year such liability ceases. The primary requirement of applicability of this provision therefore is where an allowance or reduction has been made in the assessment for any year in respect of such loss or expenditure or trading liability. When no such allowance or deduction was made, question of applicability of section 41(1) of the Act would not arise.
Principal CIT Vs M/s. Shree Gopal Housing (Bombay High Court) Admission of an appeal in quantum proceedings, if arising on a pure interpretation of law or on a claim for deduction in respect of which full disclosure has been made, may, give rise to a possible iew, that admission of appeal in the quantum proceedings […]
