Pr. CIT Vs M/s. Monsanto India Ltd. (Bombay High Court) Tribunal recorded that the Non Compete Agreement was part of the agreement for the sale of the business. Under this Agreement, the Assessee could be seen to have transferred the right to manufacture the product in question. The Tribunal, therefore, was of the opinion that […]
Reassessment order passed without disposal of objections raised by assessee by passing a speaking order by AO was illegal and invalid.
Kohinoor Industrial Premises Co– operative Society Ltd. Vs ITO (ITAT Mumbai) Undisputedly, the assessee has derived rental income from letting out space in the terrace of the building to mobile companies for installing their mobile tower / antenna. It is also a fact that the assessee has offered such rental income as income from house […]
IBC Code segregates commercial aspects from judicial aspects of an insolvency proceeding and empowers and facilitates the stakeholders and the Adjudicating Authority to take decisions in their respective domain.
ITO Vs M/s. Dinal Diamonds (ITAT Mumbai) We find that in this case the sales have not been doubted. It is settled law that when sales are not doubted, 100% disallowance for bogus purchase cannot be done. The rationale being no sales is possible without actual purchases. This proposition is supported from the Hon’ble jurisdictional […]
Pr. CIT Vs Green Associates (Gujarat High Court) Assessee had claimed deduction in respect to the income arising out of such activity under section 80IB (10) of the Income Tax Act. The Assessing Officer disallowed the claim mainly on the ground that the assessee was not the owner of the land and the approval of […]
St. Barnabas Hospital Vs C.I.T (Exemption) (ITAT Ranchi) We note that the society trust was maintaining Pharmacy medical shop inside the hospital, which was for in-house consumption of medicines and treatment packages and for the urgent need of medicines to in-house patients. We note that the objects of the society were not doubted by the […]
Following is the Revised Guidance Note on Division II – Ind AS Schedule III to the Companies Act, 2013 issued by the Corporate Laws & Corporate Governance Committee of the Institute of Chartered Accountants of India, for comments.
Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2019 shall come into force on the date of their publication in the Official Gazette.
IDBI Bank invites online applications from eligible Indian citizens for the below mentioned posts. Candidates fulfilling required eligibility criteria may apply On-line through the link given in Bank’s website www.idbi.com.
