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Taxability of secondment receipts: ITAT deletes Section 271(1)(c) & 270A Penalty

June 9, 2024 1896 Views 0 comment Print

Discover the ITAT Bangalore ruling on IBM Canada Limited vs. DCIT, where salary reimbursements of seconded employees were deemed non-taxable as fees for technical services.

Subsidiary would only be deemed a PE if it satisfies specific tests outlined in DTAA

June 9, 2024 1665 Views 0 comment Print

Delhi High Court quashes reassessment notices by DCIT after TPO settles arm’s length remuneration issue. Detailed analysis of Progress Rail Locomotive Inc. vs DCIT case.

ITAT deletes Section 69A Addition in the hand of intermediary in fund transfer

June 9, 2024 1311 Views 0 comment Print

ITAT Ahmedabad deletes ₹4.45 crore addition under Section 69. Money from JDS Industries not deemed as Global Ship Trade P. Ltd’s income. Detailed case analysis.

Interest Calculation from DVAT Tribunal Order Date: Delhi HC

June 9, 2024 1194 Views 0 comment Print

Delhi High Court rules that interest on refunds under the DVAT Act should be computed from the date of the DVAT Appellate Tribunal’s order, not from the deposit date.

Jurisdictional error in Section 143(2) notice cannot be cured under section 292BB 

June 9, 2024 3069 Views 0 comment Print

Read the full text of the ITAT Delhi’s order on the invalid notice issued before filing ITR, leading to the quashing of the assessment order in the case of Mideast Integrated Steels Ltd Vs ACIT.

NCLT Rule 49 Grants Adjudicating Authority Discretion to Proceed Ex Parte; This Power Is Not Absolute: NCLAT Delhi

June 9, 2024 747 Views 0 comment Print

In the case of Ashok Tiwari Vs DBS Bank India, the NCLAT rules on Rule 49, allowing proceedings to proceed ex parte when the corporate debtor fails to appear, stirring debate.

CIT(A) Obliged to Address Merits Despite Ex-Parte Order: ITAT Pune

June 9, 2024 1197 Views 0 comment Print

ITAT Pune rules that CIT(A) must address merits in appeals, not dismiss for non-prosecution. Key case: York Transport Equipment (India) Private Limited Vs ITO.

Role of RP is only that of facilitator between Personal Guarantor & Creditors

June 9, 2024 1326 Views 0 comment Print

NCLT clarifies RP’s role is consulting PG, while debtor must prepare repayment plan. Read the detailed analysis of Indiabulls Housing Finance Ltd. Vs Subhash Chandra.

Section 292BB cannot cure defect in notice to deceased assessee  

June 9, 2024 1155 Views 0 comment Print

Read the detailed analysis of Late Lodaya Navalbai Vs ITO case by ITAT Bangalore. Learn why the reassessment proceedings were quashed and its implications.

Voluntary Compensation in lieu of ESOP Not Part of Salary: Delhi HC in Flipkart-Phonepe Case

June 9, 2024 31770 Views 3 comments Print

In the case of Sanjay Baweja Vs DCIT, the Delhi High Court ruled that one-time payments in lieu of ESOPs do not constitute salary under Section 17 of the Income Tax Act.

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