PCIT Vs. Gulbrandsen Chemicals Pvt. Ltd. (Gujarat High Court) The Tribunal has taken into consideration the voluminous documentary evidence on record for the purpose of coming to the conclusion of adoption of TNMM by the assessee as the Most Appropriate Method of arriving at ALP. The Delhi High Court in the case of Make My […]
Since there was no employer-employee relationship between the assessee on one hand and the doctors on the other hand to whom the free samples were provided, the expenditure incurred for the same cannot be construed as fringe benefits to be brought within the additional tax net by levy of fringe benefit tax.
CIT (TDS) Vs Vodafone Cellular Ltd. (Bombay High Court) Whether provisions of Section 194H of the Income Tax Act, 1961 will be applicable in case of discounts given by the assessee to the distributors on account of prepaid SIM cards. Section 194H of the Act deals with commission or brokerage. It says that any person, […]
It was held that whether the purchases were bogus or whether the parties from whom such purchases were allegedly made were bogus was essentially a question of fact. When the Tribunal had concluded that the assessee did make the purchase, as a natural corollary not the entire amount covered by such purchase but the profit element embedded therein would be subject to tax.
It is found that Respondent had increased the base prices of `Sujata Mixer Grinder 900W’ when the rate of GST was reduced from 28% to 18% w.e.f. 27.07.2018, so that the commensurate benefit of GST rate reduction was not passed on to his recipients.
Appointment of CAA by DGRI- Notification No. 19/2020-Customs (N.T./CAA/DRI), Dated: 03.03.2020 Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Directorate of Revenue Intelligence Notification No. 19/2020-Customs (N.T./CAA/DRI) New Delhi, dated the 03.03.2020 S.O. 983(E).— In pursuance of notification No. 60/2015-Customs (N.T.), published vide number G.S.R. 453(E), dated […]
he Hon’ble Finance Minister while presenting the Union budget for financial year (FY) 2015-16 stated that the deductions and incentives given to corporate taxpayers under the Income-tax Act, 1961 (the Act) will be phased out over four years while simultaneously reducing the tax rates. It was also stated that this will lead to making our industry competitive, reduce tax litigation and prevent revenue loss.
Initiation of Review Investigation for continued imposition of Safeguard Duty on imports of ‘Solar Cells whether or not assembled in modules or panels’ into India.
Government introduces Banking Regulation (Amendment) Bill, 2020 in Lok Sabha to bring the co-operative banks on par with the developments in the banking sector through better management and proper regulation of co-operative banks with a view to ensure that the affairs of the co-operative banks are conducted in a manner that protects the interests of […]
I am happy to share with you that we have more than 80000 women CAs and close to 300000 girl students pursuing CA Course. The strength of women in the profession is growing at faster pace which is a positive sign. I wish you all happy Women’s day and my heartiest congratulations on this great occasion.
