The critical question before special bench: Whether, on the facts and in the circumstances of the case, no arm’s length rate of interest was required to be charged on the loan granted by the non-resident assessee-company to its wholly owned subsidiary Indian company M/s. Datex-Ohmeda (India) Pvt. Ltd. (Datex)?
If we require Uniform Civil Code, does this mean India does not have a civil law or India is not a civil society? India is perfectly a civil society. The Constitution of India, 1950 being the highest piece of law. Even parliament cannot change the basic structure of constitution of India. Later, Code of Civil Procedures, 1908, Criminal procedure Code, 1973 and Indian Penal Code, 1860 are the three important pieces to maintain the law and order.
Once a search takes place under Section 132 of the Act, notice under Section 153A(1) will have to be mandatorily issued to the person searched requiring him to file returns for six AYs immediately preceding the previous year relevant to the AY in which the search takes place.
a) In recent past, Bombay HC held that, women can enter any part of Shani temple. b) Currently, a three member bench of SC is considering an issue of constitutional validity of Ban on entry of women into a temple in a case from kerala. Apparently, from the discussion that took place in the court room, it is more likely that, the bench will rule in favour of allowing entry of women into temple.
This topic has importance in the context of TDS u/s 195 i.e. whether such payment is to be covered under article 12 i.e. fees for technical / managerial / consultancy services [in some treaties, fees for included services or under article 7 being business receipts.
It is a levy emerging from source based taxation at the rate of 6%. Government has chosen this route because, under the current regime, it cannot reach to google / yahoo etc.Especially from view point of a SME, it is in the nature of levy on availing / importing some digital services like digital advertisement.
You may be aware that, the Supreme Court on Tuesday, February 3, 2016, referred a batch of curative petitions against Section 377 of the Indian Penal Code, a colonial-era provision criminalising consensual sexual acts of Lesbian, Gay, Bisexual and Transgender (LGBT) adults in private, to a five-judge Constitution Bench for a possible back-to-roots, in-depth hearing.
Background a) CBDT vide its notification 2/2016 dated 3-Feb-2016 has prescribed Procedure, Formats and Standards for ensuring secured transmission of electronic communication. b) I am thankful to Sandeep for providing scope for a preliminary article on this topic at https://taxguru.in/income-tax/ready-email-assessment.html c) An attempt is being made to trace the difference in manual or physical submissions […]
Impact on All- 1. It will bring transparency and speed in the assessment procedure. It will especially reduce the travelling time / meeting time / waiting time of both AOs and CAs increasing their efficiencies. 2. There will be permanent / reliable repository [ on cloud ] to store / retrieve the submissions. 3. The geographical location of any concerned person will become completely irrelevant.
One precedence is there whereby a person aggrieved by the disposal of application for stay of demand can approach ITAT instead of writ to HC. Delhi ITAT has, in the case of Employees’ Provident Fund Vs. Addl. CIT (T.D.S) dated 10.04.2015 has admitted the appeal and has granted a stay on such demand when quantum appeal is not pending before it.
