High Court states that so long as functions of the computers are performed with other functions and other functions are dependant on the functions of the computer, ATMs are to be treated as computers and are entitled to higher rate of depreciation.
Air France Vs Addl. CIT International Taxation (ITAT Delhi) The issue under consideration is whether Indian branch is deriving income from technical handling to IATP Pool Members and non IATP Members is taxable in India? ITAT states that, in the present case, it can be seen that the Indian Branch office is merely a branch […]
In the present case, Assessee is engaged in the business of providing accommodation entries to entry seekers. During the assessement proceedings AO held that the identity of the parties involved in the transactions were not furnished as well as genuineness of the transactions relating to total cash deposits were not satisfactorily explained by the assessee.
Detained Tobaco Product Released on Payment of Tax along with Penalty and after providing Bank Guarantee of Equal to the value of goods detained.
ITAT states that, it has to be pointed out that any tax holiday can be granted to a person who declares a truthful return. It cannot and should not be granted to the person who claims that he purchased medical equipments in the guise of treating poor persons and it is subsequently found that the entire transaction is bogus.
Whether the disallowance of contribution made to PNB Employees Pension Fund Trust, which the assessee claims to be its legitimate business expenditure is justified in law?
NIIT Foundation Vs CIT (ITAT Delhi) Online Coaching considered as Education u/s 2(15) hence eligible for Exemption under section 11/12 The issue under consideration is whether the CIT(A) is correct in holding that the activity carried out by the Appellant is not in the nature of ‘education’ within the meaning of Section 2(15) of the […]
Whether the CIT(A) is correct in holding that consideration received on assignment of know-how is chargeable to tax as Capital Gains?
The issue under consideration is whether the TPO is correct in considering subvention fee in the BPO segment instead of distribution segment?
Whether the AO is correct in considering that the capital gain will arise in the year when the land is transferred to the co-operative society formed by the flat purchasers and not when flats are sold?
