Assessee found entitled to refund of money deposited by it upon re-computation by Revenue & interest thereon is liable to be paid under Section 244A(1)(b)
To claim deduction on account of bad debts, two conditions have to be met by the Assessee i.e. (i) the bad debts must have been taken into account in computing the income of the Assessee of previous year or of an earlier/previous year and; (ii) the bad debts should have been written off in the accounts of the Assessee.
Withholding certificate at a low tax rate rejected for huge outstanding demand, although same were due to pending rectification applications
If no incriminating material found during Income Tax search in respect of an issue, no addition for such issue can be made Sections 153A/153C
Addition by AO without providing any cogent reasoning or working, based on which such disallowances were made are not sustainable.
Disputed demand has arisen for failure of Tata Teleservices to deduct tax at source on interest payments made to China Development Bank
Held that insufficiency of evidence or material is not a ground for setting aside an arbitral award. Income tax return is material evidence to establish the claim.
SRF Ltd Vs Union of India (Delhi High Court) Section 35(2AB) of the Act provides for weighted deduction of one and one half times (150%) of the expenditure incurred by a company on scientific research on in-house R&D facilities approved by the prescribed authority i.e. DSIR. In support of his submission, he relies upon Rule […]
There is no dispute that petitioners deposited taxes, however, the mistake which petitioners have committed is that they deposited tax under minor head ‘200’ instead of ‘400’.
Held that dispute in respect of ESOP which forms part of the Employment Agreement, would be referable to arbitration as provided in Clause 21 of ESOP.
