TDS credit was allowed as the commission income was not managerial service under India Germany Double Taxation Avoidance Agreement (DTAA).
Circular No. 723 dated 19.09.1995 – Section 172 applies to payments made to agents of foreign shipping companies so, section 194C not applies
Held that electricity is capable of abstraction, transmission, transfer, delivery, possession, consumption and use like any other movable property. Hence, additional depreciation u/s. 32(1)(iia) available to the assessee on activity of power generation.
Held that interest payment on late payment of TDS is not eligible business expenditure for deduction and it is not compensatory in nature.
Geo Connect Ltd Vs DCIT (ITAT Delhi) The factual matrix reveal that the assessee is in real estate business and for that purpose it purchased an agricultural land from one Sh. Ugma, an old man of 75 years. Towards sale consideration of the said land, the assessee issued bearer cheques for an amount of Rs. […]
Section 249(4)(b) of Income Tax Act, 1961 cannot be invoked when return of income filed by assessee was selected for scrutiny and assessment
No addition was called for more so, when no evidence about the expenses being bogus in nature has been brought on record by the Revenue.
Bodycare Creations Limited Vs DCIT (ITAT Delhi) ITAT find that the assessee has successfully demonstrated that the return of income filed by it has been subjected to provisions of Section 92E of the Act and consequently the due date available to the assessee is 30th November, 2017 relevant to Assessment Year 2017-18 in question in […]
Held that persons who have given loan are not present at their address which clearly shows the lack of genuineness of the transactions. Receipt of the amount in their bank accounts immediately before giving the loans further cast doubt of the creditworthiness.
Section 194A provision provides that obligation cast under Section 194IA is qua each transferee and not qua aggregate consideration.
