The second contention of the appellants is that the law of pleadings and the provisions of the Indian Evidence Act, 1872, apply to the proceedings before the CLB. Therefore, the CLB ought not to have taken note of the new pleadings made by the impleaded parties and ought not to have accepted the pleadings made without any evidence.
Explore Chennai Water Board Tax Case with TDS on loss-making payee, interest levy, and proportionality issues under the Income Tax Act.
Calcutta High Court in the case of PILCOM v. CIT , held that if any payment in the nature of guaranteed amount was paid to any non-resident sports association in relation to any match played in India, the provisions of section 194E of the Income-tax Act, 1961 would be applicable with respect to deduction of tax at source. Furthermore, the HC has held that the provisions of section 115BBA of the Act which deals with taxability of non-resident sportsmen or sports associations, are independent from the other provisions of the Act and would override the generality of section 9(1) of the Act which deals with the accrual or assessing of income in India.
Recently, the Delhi High Court (High Court) in the case of CIT v. Whirlpool of India Ltd. (ITA No. 1154 of 2009) (Judgement date: 24 January 2011 Assessment Year 1996-97) held that additional provision for warranty made was not contingent liability
he Explanation to s.73 creates a fiction that the loss suffered by certain companies from the business of purchase & sale of shares shall be deemed to be speculation loss. The Explanation is not inconsistent with the object of introduction. The CBDT
The Assessee had a unit at Bhopal which was not functioning since the assessment year 1997-98. For the assessment year 1998-99, the assessee claimed depreciation in respect of closed unit at Bhopal on the ground that depreciation would be allowable s
Tribunal has exercised the powers under Section 80 of the Act and therefore setting aside the penalty under Section 76 by the Commissioner (Appeals) cannot be held to be unreasonable. Further, the respondent has admittedly paid 25% of the penalty within one month from the date of the order of the original authority. Therefore, the waiver of penalty in excess of 25% of the Service Tax evaded under Section 78 is also justified and, therefore, order of the Commissioner (Appeals) calls for no interference.
The Delhi High Court has held that the payment made to foreign satellite service providers for use of transponders does not constitute „royalty? and hence is not taxable in India. It provides a welcome relief to the foreign satellite operating compan
CIT Vs M/s Sami Labs Limited – Karnatka High Court (Dated: February 14, 2011)- Income tax – Section 115JAA, 263, 244A – Whether MAT credit is to be first adjusted and then TDS and pre paid taxed should be set off against the total tax liability – Whether assessee is entitled to interest u/s 244A against the MAT credit. – Revenue’s appeal dismissed.
Metalman Auto Pvt. Ltd. Vs. CIT, Ludhiana(High Court of Punjab and Haryana At Chandigarh) – Whether ITAT is justified in law in allowing deduction u/s 80IB on labour job receipts ignoring the fact that such income is not ‘derived from’ the eligible business of industrial undertaking of the assessee company? – Whether ITAT is justified in law in allowing deduction u/s 80IB on other miscellaneous income being misc. receipts, rebate & discount and balances written off etc. whereas such income is not ‘derived from’ the eligible business of industrial undertaking of the assessee company?
