Attachmate Corporation Vs DCIT (ITAT Delhi) Main issue relates to AO/DRP holding that the payments received by the assessee on sale of software to Indian resellers/distributors is in the nature of ‘Royalty’ chargeable to tax u/s 9(1)(vi) of the I.T. Act and Article 12 of the India-USA DTAA. ITAT held that payment received by the […]
Smarkworks Coworking Spaces Pvt. Ltd Vs Turbot HQ India Pvt. Ltd. (NCLT Cuttack) The Liquidated Damages will crystalize only after the adjudication by the competent Civil Court. This cannot be determined in the Insolvency Proceedings; undecided claim cannot be used to bring an application for insolvency. When the agreement is engrossed on unstamped paper, the […]
The DC notes the submission of Mr. Gupta, that despite his best efforts, he did not get any information, documents, records or books of account of the CD and he had to struggle to get hold of the relevant documents, records and information relating to the CD. The DC also notes the submission of Mr. […]
Central Government after consultation with IDAI & RBI permits 38 reporting entities to perform authentication under the Aadhaar Act for the purposes of section 11A of the Money-laundering Act. MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. S.O. 1702(E). | Dated: 8th April, 2022 S.O. 1702(E).—In exercise of the powers conferred by sub-section […]
IBBI Discussion Paper on Enhancing effectiveness of Information Utility seeks to address the issue of delay in admission of application for initiation of corporate insolvency and resolution process (CIRP).
Standard Operating Procedures (SOP) for dispute resolution available under the stock exchange arbitration mechanism for disputes between a listed company and its shareholder(s)/investor(s)
CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 8th April, 2022 vide Exchange rates Notification No. 32/2022 – Customs (N.T.) dated the 7th April, 2022. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS ***** Notification No. 32/2022 – Customs (N.T.) New Delhi, […]
In re Utkarsh India Limited (GST AAR West Bengal) Question: Whether dismantling of existing sleeper fixing and/or installation of new (H-Bean Steel sleepers) is amounting to execution of original work and would attract IGST @12% in terms of Notification No. 20/2017-Integrated Tax (Rate) dated 22.08.2017? Answer: The instant supply is found to be a composite supply of […]
Considering the fact that there is only a technical breach committed by the petitioner and there is no intention to evade tax, I am inclined to quash the impugned order and allow this writ petition by directing the respondent to release the vehicle and the consignment to the petitioner, if the same has not been released already.
Since no incriminating material was found during the course of search, as regards the additions made u/s.68 of the Income Tax Act, therefore, no additions could be made.
