DCIT TDS Vs Reliance Communications Ltd. (ITAT Mumbai) Roaming charges paid by the assessee to the other telecom service provider are not in the nature of ‘fee for technical services’ no TDS under section 194J is liable to be deducted. Once there is no liability for deducting tax at source, question of charging interest under […]
DCIT Vs Convergys Customer Management Group Inc. (ITAT Delhi) It is mandatory for all taxpayers, without exception, to obtain an independent accountant’s report in respect of all international transactions between associated enterprises or specified domestic transactions. The report has to be furnished by the due date of the tax return filing. Even if it is […]
All the stakeholders and general public are hereby informed that the Office of the Disciplinary Directorate of the ICAI is shifted from 3rd floor, ICAI Bhawan, I.P.Marg, New Delhi-110002 to the new premises at following address :
Income Tax Return (‘ITR’), an annual record of income, enables a taxpayer to declare his income, expenses, tax liability, deductions, savings, investments, etc. during the applicable Fiscal Year (i.e. Financial Year (‘FY’) – a period from April 1 to March 31).
To amend notification No. 12/2017- Central Tax (Rate) so as to exempt satellite launch services provided by ISRO, Antrix Co. Ltd and NSIL as recommended by GST Council in its 42nd meeting held on 05.10.2020. Notification No. 05/2020 – Central Tax (Rate) dated 16th October, 2020. Government of India Ministry of Finance (Department of Revenue) […]
To amend notification No. 12/ 2017- Union Territory Tax (Rate) so as to exempt satellite launch services provided by ISRO, Antrix Co. Ltd and NSIL as recommended by GST Council in its 42nd meeting held on 05.10.2020. Notification No. 05/2020 – Union Territory Tax (Rate) Dated 16th October, 2020. Government of India Ministry of Finance […]
Oriental Insurance Co. Ltd. Vs DCIT (ITAT Delhi) The Tribunal has interpreted Section 44 read with the first schedule and concluded that applicability of Section 14A is excluded in relation to computation of income of an insurance company. We have examined the relevant provisions. Section 44 begins with a non-obstante clause and overrides the other […]
Due to COVID 19, Para 4.44 of Handbook of Procedures 2015-20, on Monitoring of Export Obligation stands amended to allow extension in the date of submission of documents for ED fulfilment up to 31.12.2020 for all Advance authorisations, wherever Export Obligation period is expiring/has expired between 01.02.2020 and 31.10.2020.
Hon’ble Supreme Court examined the omission on the part of the AO not providing opportunity to assessee to cross examine of two witnesses and held that it was a serious flaw and since the statements of those witnesses were made the basis of the impugned order this omission on the part of AO makes the order nullity inasmuch as it amounted to violation of Principles of natural justice.
A.P. Refinery Pvt. Ltd. Vs DCIT (ITAT Chandigarh) The issue before us relates to addition made to the income of the assessee on account of cash found short with the assessee. Cash short, at the most represents expenses / outgoings out of cash available with the assessee not accounted for in the books of the […]
